MicroStrategy Buys $108.8M in Bitcoin, Corporate BTC Treasury Rises to 672,497 BTC
MicroStrategy (led by Michael Saylor) reported a Dec. 22–28 purchase of 1,229 BTC for $108.8 million, funded by at-the-market sales of 663,450 Class A shares. The buy increases MicroStrategy’s corporate Bitcoin treasury to 672,497 BTC with an average cost basis near $74,997 per BTC. This addition is part of a highly active 2025 for the firm — MicroStrategy disclosed Bitcoin purchases in 41 different weeks this year, versus 18 weeks in 2024 and eight in 2023. Major 2025 acquisitions included roughly 22,049 BTC on March 31 (~$1.92B), 21,021 BTC on July 29 (~$2.46B), and 20,356 BTC on Feb. 24 (~$1.99B). Historically, MicroStrategy funds purchases primarily through equity offerings (at-the-market common and preferred share programs). The filing also notes a year-to-date BTC yield of 23.2% (Bitcoin growth relative to shares outstanding). As of the filing, publicly traded companies collectively hold over 1.08 million BTC across 192 firms, with MicroStrategy remaining the largest corporate holder. For traders: the purchase is a modest supply-side demand signal but continues a clear, steady accumulation strategy funded by equity issuance — factors that support longer-term Bitcoin demand dynamics but are unlikely to cause large immediate price moves given the size relative to global BTC liquidity.
Bullish
MicroStrategy’s continued purchases — including the Dec. 22–28 buy of 1,229 BTC funded via at-the-market equity sales — reinforce persistent corporate demand for Bitcoin. Repeated, sizable accumulations throughout 2025 (41 weeks of buys and multiple multi‑thousand‑BTC transactions) signal durable institutional appetite. That steady demand reduces available supply on exchanges and supports medium- to long-term price foundations. In the short term, the latest $108.8M purchase is small relative to global BTC liquidity and unlikely to trigger a sharp price surge; however, the cumulative effect of sustained buying and MicroStrategy’s use of equity issuance as a recurring funding mechanism is a constructive factor for Bitcoin’s price outlook. Traders should view this as mildly bullish: potential support for higher levels over time, while near-term volatility will remain driven by macro catalysts, liquidity, and broader market flows.