According to Michael Saylor, MicroStrategy finally broke its 12-week streak of consecutive weekly Bitcoin purchases. The firm did not sell any shares of Class A common stock this week, nor did it use proceeds to buy BTC.
The firm may owe billions of taxes on its unrealized gains, and Bitcoin’s price is proving extremely volatile due to US tariffs and political instability. However, Saylor gave very little indication of MicroStrategy’s next move.
MicroStrategy Stops Buying Bitcoin
Since Michael Saylor began directing MicroStrategy to acquire Bitcoin, the firm has become one of the world’s largest BTC holders.
Since late October, the firm has made at least one purchase every week, going from huge buys to slowly diminishing acquisition sizes. MicroStrategy began issuing more shares to ramp up the acquisitions, but Saylor just announced a general pause:
“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 February 2, 2025, we hold 471,107 BTC acquired for ~$30.4 billion at ~$64,511 per Bitcoin,” Saylor claimed.
This announcement has left the community somewhat confused. In December, there were credible rumors that MicroStrategy may pause its Bitcoin purchases in January.
However, this pause did not happen, and the company’s acquisitions actually increased towards the end of the month. So, it’s surprising that the firm halted its purchases, seemingly when the BTC price presented notable buying opportunities last week.
A few factors may have contributed to this switch in tactics. For one thing, Bitcoin’s value is in a tough spot. Since the threat of US tariffs against Mexico, Canada, and China, it and the broader crypto market took a nosedive.
With further economic chaos looming on the horizon, MicroStrategy may take a conservative approach to Bitcoin investment.
There is also another factor. Although BTC took a dive today, it’s been in a sustained bull market otherwise. MicroStrategy may owe billions in unreleased gains regarding its Bitcoin prices, which would add more complexity to a delicate situation.
For now, it’s difficult to predict where the company will go from here.
One important consideration is the pause on stock sales alongside BTC buys. MicroStrategy has been using these to fund its Bitcoin accumulation, and the firm may stop committing so heavily to the asset.
Michael Saylor did not give any direct indication of whether it will resume these purchases soon. Many factors are in the air right now, but the firm remains committed to its Bitcoin-first strategy.
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