Some investors consider the company’s interruption of Bitcoin (BTC) purchases as a negative development, while some analysts look at this from a different angle.
Microstrategy’s Past Bitcoin Purchases
Microstrategy has been accumulating Bitcoin in an aggressive way for the last four years. The company accelerated these purchases, especially after the last presidential election in the USA. However, it did not purchase BTC for the first time during the last week, which led to various speculation in the markets.
First of all, let’s take a look at Microstrategy’s recent BTC purchases:
- 31 October – 10 November: 27.200 BTC – 2 billion dollars (Average: 74,463 dollars)
- 11-17 November: 51.780 BTC-4.6 billion dollars (Average: 88,627 dollars)
- 18-24 November: 55,500 BTC-5.4 billion dollars (Average: 97.862 dollars)
- November 25 – December 1: 15,400 BTC – $ 1.5 billion (Average: 95,976 dollars)
- 2-8 December: 21,550 BTC-$ 2.1 billion (Average: 98,783 dollars)
- 9-15 December: 15,350 BTC-1.5 billion dollars (Average: 100.386 dollars)
- 16-22 December: 5.262 BTC-$ 561 million (Average: 106,662 dollars)
- 23-29 December: 2,138 BTC-$ 209 million (Average: 97.837 dollars)
- 30 December – January 5: 1.070 BTC – 101 million dollars (Average: 94.004 dollars)
- 6-12 January: 2,530 BTC-243 million dollars (Average: 95,972 dollars)
- 13-20 January: 11,000 BTC-$ 1.1 billion (Average: 101.191 dollars)
- 21-26 January: 10.107 BTC-$ 1.1 billion (Average: 105,596 dollars)
- 27 January – 2 February: 0 BTC
In conclusion:
- A total of 218,887 BTCs have been purchased since October 31st.
- The total amount spent for these purchases is $ 20.4 billion (an average of $ 93,200/BTC).
- Currently, the company has a total of 471,107 BTCs; This corresponds to more than 2 percent of the circulating Bitcoin supply.
Will Bitcoin purchases continue?
Many people on social media considered Microstrategy’s interruption of BTC purchase as a decrease signal. However, some analysts think that this may be a different reason:
- Mark Palmer from Benchmark points out that the company has made an indefinite privileged shareholder for the first time. When this process is completed, Microstrategy will collect $ 563 million and will use these funds for new BTC purchases.
- Lance Vitanza from TD Cowen says that Microstrategy may be banned from making new BTC purchases during this share export process. However, after this new financing is completed, the company may accelerate BTC purchases even more.
While Microstrategy did not make an official statement about this situation, Palmer used the following statement:
“For the rest of 2025, we expect the company to continue their Bitcoin purchases aggressively.”
In the coming period, how the company’s BTC strategy will be shaped and how it will be reflected in the markets will continue to be a subject of great curiosity.
