Key Insights:
- Michael Saylor’s Strategy ( previously MicroStrategy) has purchased 10,624 BTC for $962.7 million.
- The largest Bitcoin treasury company expanded its holdings to 660,624 BTC.
- MSTR stock jumped more than 2% following the massive purchase.
- Bitcoin price pared earlier gains and fell under $92K.
Michael Saylor on Monday revealed a massive 10,624 BTC purchase by MicroStrategy (now Strategy). With the latest purchase, the largest corporate Bitcoin treasury has now expanded its total Bitcoin holdings to 660,624 BTC following its latest purchase.
MicroStrategy (MSTR) stock price jumped more than 2% as Saylor attends the Bitcoin MENA conference and bulls strongly target upside.
Michael Saylor’s MicroStrategy Buys Massive 10,624 BTC
According to a press release on December 8, Strategy (formerly MicroStrategy) has acquired an additional 10,624 BTC at an average price of $90,615 per coin between December 1 and 7.
The largest corporate Bitcoin treasury used proceeds from MSTR and STRD shares sold at-the-market (ATM) offerings to purchase these BTC.
Executive chairman Michael Saylor took to X to reach out to its shareholders and the broader crypto community about the massive Bitcoin purchase.
He added that the company has achieved a BTC yield of 27.8% year-to-date (YTD). During the Bitcoin MENA conference, he revealed plans to meet all the sovereign wealth funds in the Middle East.
With the latest purchase, MicroStrategy has increased its total Bitcoin holdings to 660,624 BTC. These BTCs were acquired for a total of $48.38 billion at an average of $74,436 per coin.
Strategy now sits on unrealized gains of nearly $12 billion as the holdings are valued at $60.41 billion at the current market price.
Michael Saylor’s MicroStrategy last added 130 BTC for $11.7 million at an average price of $89,960 per coin. The firm announced the establishment of $1.44 billion reserve for dividends.
MicroStrategy (MSTR) Stock Pumps 2%
At the time of writing, MSTR stock jumped more than 2% to $182.45 during the pre-market trading hours on Monday. Bitcoin price tumbled below $85K.
MicroStrategy (MSTR) stock closed 3.77% lower at $178.99 on Friday amid a pullback in Bitcoin price below $88K. However, trading volumes are rising above the 13 million average volumes.
Strategy stock gave almost 2% return last week despite selling pressure. As per Google Finance, the YTD 2025 stock return has dropped to a 38% loss.
However, MicroStrategy has received buy ratings from Bernstein and Cantor Fitzgerald. Gautam Chuggani from Bernstein continues to maintain his bullish outlook, but reduce price target from $600 to $450.
Bitcoin Price Wavers Under $92K
BTC price pared earlier gains and dropped below $92K. The price was still 3% higher after a rebound from a low of $87,799 amid a surge in the MicroStrategy (MSTR) stock.
Trading volume increased by 67% over the last 24 hours amid the pullback. This signals that traders remained cautious ahead of the key FOMC Meeting.
The derivatives market data by CoinGlass confirmed jitters among traders. The 24-hour BTC futures open interest began to decline from more than 3% upside.
At the time of writing, the total BTC futures open interest fell 0.77% to $58.06 billion in the past 4 hours. Notably, futures open interest on CME and Binance dropped by 0.57% and 0.51%, respectively.