MicroStrategy’s Latest Bitcoin Bet: A $90 Million Purchase Above Market
In a move that underscores its unwavering conviction, Michael Saylor’s MicroStrategy has once again added to its massive Bitcoin treasury. The business intelligence firm purchased an additional 1,142 BTC for approximately $90 million in cash, according to a recent filing with the U.S. Securities and Exchange Commission (SEC).
This latest acquisition, however, came at a price point that has caught the attention of market observers. The company bought the Bitcoin at an average price of roughly $78,800 per coin. This is notably higher than Bitcoin’s current trading price and, more significantly, above the firm’s own average cost basis for its entire holdings.
Timing and Strategy: Buying the Dip, But Not the Bottom
The purchase was executed between August 1 and August 23, a period that notably missed Bitcoin’s brief plunge to the $60,000 level in mid-July. This indicates that while MicroStrategy is committed to accumulating BTC, its strategy may not be focused on pinpointing absolute market bottoms. Instead, it appears to be a methodical, dollar-cost-average-style accumulation, deploying capital consistently to build its position over time.
This latest buy brings MicroStrategy’s total Bitcoin stash to a staggering 226,331 BTC. The company’s aggregate investment now stands at approximately $8.7 billion, translating to an average purchase price of about $38,400 per Bitcoin. Even with the recent higher-price purchase, the firm’s total holdings remain deeply in profit on a blended basis.
What This Means for the Market
MicroStrategy’s actions are closely watched as a bellwether for institutional “hodling” behavior. This purchase sends several clear signals:
- Long-Term Conviction: Buying above its own average cost demonstrates that Saylor and his company are not merely fair-weather investors. They are willing to add to their position even when prices are elevated relative to their historical buys, betting on long-term appreciation.
- Corporate Treasury Trend: MicroStrategy continues to be the flagship example of a public company using Bitcoin as a primary treasury reserve asset, a strategy that has inspired other firms to consider similar moves.
- Market Support: A $90 million buy order provides tangible buy-side support for the Bitcoin market, absorbing supply from sellers.
While some traders might focus on the “missed” opportunity at $60k, MicroStrategy’s playbook has never been about short-term trading. It’s a strategic, multi-year allocation designed to hedge against currency debasement and capture what Saylor frequently calls “digital property.” This latest $90 million purchase is simply another brick in that formidable digital wall.
