TLDR
- MicroStrategy bought 3,081 Bitcoin for $356.9 million at an average price of $115,829 per coin between August 18-24
- The purchase brings MicroStrategy’s total Bitcoin holdings to 632,457 BTC worth roughly $70.6 billion
- Company’s August Bitcoin purchases total only 3,666 BTC, down sharply from 31,466 BTC bought in July
- MicroStrategy stock fell 4.3% to $342.86 on Monday despite the Bitcoin purchase announcement
- Bitcoin price dropped from over $114,000 to around $112,000, contributing to the stock decline
MicroStrategy purchased another 3,081 Bitcoin for $356.9 million during the week ending August 24. The business intelligence software company paid an average price of $115,829 per coin for its latest acquisition.
The purchase brings MicroStrategy’s total Bitcoin holdings to 632,457 BTC. The company has spent approximately $46.5 billion on its Bitcoin collection at an average price of $73,527 per coin.
Bitcoin started the week around $116,700 before sliding to $112,000 on Thursday. The cryptocurrency fell from over $114,000 to around $112,000 in minutes on Sunday.
Buying Pace Slows in August
MicroStrategy’s latest Bitcoin buy follows two smaller purchases earlier in August. The company bought 430 BTC the previous Monday and 155 BTC the week before that.
August’s total Bitcoin purchases reach 3,666 BTC. This represents a sharp decline from the 31,466 BTC purchased in July.
In June, MicroStrategy acquired 17,075 BTC. The buying pace has clearly slowed over the past three weeks.
Chairman Michael Saylor signaled the purchase on social media Sunday. “Bitcoin is on Sale,” Saylor posted on X before the company filed its SEC disclosure.
The drop in Bitcoin price preceded a brief rally triggered by Federal Reserve Chair Jerome Powell’s comments. Powell spoke at Jackson Hole on Friday, indicating potential interest rate cuts ahead.
Stock Falls Despite Bitcoin Purchase
MicroStrategy stock declined 4.3% to $342.86 on Monday. The drop mirrored Bitcoin’s falling price despite the purchase announcement.
Bitcoin traded down 0.8% over 24 hours to $111,647 according to CoinDesk data. Other crypto-related stocks also fell on Monday.
Coinbase Global shares dropped 2.8%. Robinhood Markets declined 1.5%.
MicroStrategy’s current Bitcoin holdings are valued at roughly $70.6 billion. The company remains the world’s largest corporate Bitcoin holder.
Saylor has previously stated his preference for buying Bitcoin at higher prices. “I’m going to be buying the top forever. Bitcoin is the exit strategy,” he said in 2024.
The company’s BTC yield reached 25.4% as of Monday. This key performance indicator measures the percentage change between Bitcoin holdings and diluted shares outstanding.
MicroStrategy revised its 2025 Bitcoin targets in late July. The company raised its BTC yield target from 25% to 30%.
The Bitcoin gain target increased from $15 billion to $20 billion. Current year-to-date Bitcoin gains stand at 113,524 BTC according to official data.
