MicroStrategy adds 1,229 BTC ($108.8M) via ATM; holdings rise to 672,497 BTC

Published: 2025-12-29 13:59:37 |

MicroStrategy bought 1,229 BTC between Dec 22–28, 2025, spending about $108.8 million at an average price of $88,568 per coin. The tranche was funded through its At-The-Market (ATM) program, which sold 663,450 Class A shares and netted roughly $108.8M. After this purchase MicroStrategy’s total bitcoin holdings reached 672,497 BTC, with an aggregate cost basis near $74,997 per BTC and cumulative bitcoin acquisition spending of about $50.44 billion. Earlier reports noted a larger prior tranche (Dec 8–14) of 10,645 BTC bought for about $980.3M at an average of ~$92,098, bringing holdings then to 671,268 BTC and a company-wide average cost near $74,972. Combined, the updates show continued institutional accumulation funded via equity issuance: MicroStrategy retains substantial remaining ATM capacity across multiple securities (Class A common and several preferred tranches), giving it flexibility to raise capital and add to its BTC position. Key trader takeaways: incremental buy sizes (10,645 BTC prior tranche; 1,229 BTC latest), tranche prices (~$92.1k previous; ~$88.6k latest), cash deployed (~$980M and ~$108.8M), total holdings (672,497 BTC), and company-wide average cost (~$75k).

Bullish

MicroStrategy’s continued purchases funded via its ATM equity program signal ongoing institutional accumulation of BTC. The disclosed tranches are relatively modest vs. total market cap but matter for supply dynamics: direct buys remove spot supply from exchanges and signal long-term demand. Short-term impact: modest upward pressure on BTC price when buys occur, especially at spot levels near tranche prices (~$88.6k–$92.1k) because savvy traders anticipate incremental demand. Long-term impact: sustained accumulation by a high-profile corporate holder strengthens narrative of institutional adoption, potentially supporting higher price floors and reduced circulating supply. Offsetting factors: purchases are financed by share issuance rather than balance-sheet cash, so impact depends on investor appetite for MicroStrategy equity and broader market liquidity. Overall, the news is net bullish for BTC price dynamics but unlikely to trigger large immediate rallies given tranche sizes relative to daily market volume.