Some companies buy back their own stock. Others expand into new markets. MicroStrategy, the NASDAQ-listed business intelligence giant spearheaded by Michael Saylor, buys Bitcoin, and it does not seem interested in stopping. While most of the corporate world spent 2021 debating whether crypto had a place on a balance sheet, Saylor’s company simply kept adding coins, month after month, dip after dip.
The latest move came in December, when the company continued its BTC buying spree with another substantial purchase worth more than $80 million. It is the kind of headline that would have been jaw dropping two years ago, and now it barely makes you blink.
🛒 The Latest Purchase
The company has accumulated another 1,434 coins for approximately $82.4 million in cash, at an average price of around $57,500 per bitcoin. That is not a small rounding error on a balance sheet; that is a serious wager, executed at a moment when the price had pulled back from its all-time highs.
This is the tech behemoth’s second bitcoin buy in the past few weeks. In November, the firm spent $414 million to swipe just over 7,000 coins. Two purchases, roughly half a billion dollars, in under a month. Saylor has described his approach as “dollar cost averaging” on a corporate scale, and the receipts back him up:
MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy
~ Michael Saylor⚡️ (@saylor) December 9, 2021
💼 The Bigger Picture: 122,478 Coins
The company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion at an average price of just under $30,000. Stop and think about that average for a moment. Most of those coins were bought at prices that now look like bargains, and it means this entire BTC portfolio is now worth over $6 billion at December 2021 prices.
That number makes MicroStrategy the largest publicly traded corporate holder of Bitcoin by a wide margin. It has effectively converted its treasury from a pile of depreciating cash into a pile of the hardest asset it could find, and the market has rewarded the experiment handsomely, at least so far.
🏢 A Corporate Blueprint
Whatever you think of the strategy, Saylor has done something important: he turned “should companies buy Bitcoin?” from a hypothetical into a lived experiment with audited financials. Every quarterly report shows exactly what happened when a company bet its treasury on a hard-capped digital asset.
Other companies have since followed, and every time they do, they point to MicroStrategy as proof of concept. The board meetings where this gets decided will keep happening, and the numbers on the table will be MicroStrategy’s numbers.
🧠 Final Thoughts
The shopping spree is not over, and if Saylor’s public statements are any indication, it never really ends, just pauses between purchases. The risk is easy to name: if Bitcoin heads into a long winter, every headline about this treasury strategy gets one degree colder. But that is exactly why it is fascinating to watch. Conviction this public has nowhere to hide, and so far, it has paid.
Do your own research, and remember that what works for a company treasury is not automatically right for your personal savings. Thanks for reading.