MicroStrategy pauses its bitcoin buying spree after 12 weeks of continuous accumulation
One of bitcoin’s biggest cheerleaders, MicroStrategy CEO Michael Saylor, has pressed pause on growing the company’s bitcoin stockpile.
MicroStrategy, the largest corporate bitcoin holder, paused its bitcoin buying spree after 12 consecutive weeks of accumulation. The mega stockpiler’s halt coincides with a brutal few days for bitcoin, which saw its price seesaw in sync with the market and the overall crypto ecosystem. The Fed’s pausing of rate cuts, coupled with President Trump’s on-and-off-again threats of tariffs and China’s retaliatory 15% tariff, threw a wrench in global markets.
Last week, MicroStrategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/2/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR https://t.co/QTBWl8KlNv
— Michael Saylor⚡️ (@saylor) February 3, 2025
MicroStrategy’s last purchase was on January 27, bringing its total holdings to 471,107 bitcoin. Last week, it also announced the pricing of its Series A Perpetual Strike Preferred Stock “at a public offering price of $80.00 per share,” according to a statement. The offering raised $563.4 million — up from the initial $250 million target — and intends to use the proceeds “for general corporate purposes, including the acquisition of bitcoin and for working capital.”
“The issuance and sale of the perpetual strike preferred stock are scheduled to settle on February 5, 2025, subject to customary closing conditions,” the statement read, which is also the date of the company’s next earnings release.
Many are trying to read the tea leaves in the surprising pause, with some bears arguing that this might be a harbinger of bad news for bitcoin.
JUST IN: MicroStrategy did not buy any #Bitcoin last week, ending a streak of 12 consecutive weeks of buying.
— Jacob King (@JacobKinge) February 3, 2025
You know the bubble is about to pop when even the biggest bulls halt their purchases .
Yet others also noted that, given the company’s huge stash, it’s hard to negate its commitment to bitcoin.
“With a ~$45 billion position in bitcoin, I don’t think anyone is questioning Michael Saylor’s conviction regarding the investment,” Autonomys CEO Todd Ruoff said.
That’s why some experts say the pause is more likely due to other factors and strategic plans.
First, MicroStrategy, which joined the Nasdaq in December, has earnings tomorrow, which could place pre-earnings restrictions for a period to remain compliant with the SEC, Two Prime CEO Alexander Blume said.
In addition, the recent $563 million raise also underscores Saylor’s hodling conviction.
“Bonds are a capital-efficient way to raise capital and signals strength to fund future bitcoin investments,” Kevin Rusher, founder of tokenization platform RAAC, said. “The buying pause is unlikely to be driven by market sentiment — it will just be part of MicroStrategy’s long-term plan.”
Yaël Bizouati-Kennedy is a financial journalist who’s written for Dow Jones, The Financial Times Group, and Business Insider.
