MicroStrategy Halts Bitcoin Buying Spree After 12 Weeks

MicroStrategy, the business intelligence firm led by executive chairman Michael Saylor, has paused its 12-week streak of Bitcoin (BTC) purchases. The company did not execute a Bitcoin buy for the first time in three months, according to Form 8-K disclosure documents filed with the U.S. Securities and Exchange Commission.

During the 12 consecutive weekly Bitcoin purchases, MicroStrategy did not sell any class A common shares from its at-the-market program. With no share sales between January 27 and February 2, the company had an outstanding $4.35 billion worth of equity offerings available to finance potential future Bitcoin acquisitions.

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, the company held 471,107 BTC, acquired for approximately $30.4 billion at an average price of around $64,511 per Bitcoin.

MicroStrategy plans to fund its "21/21" strategy with its ATM offering, a plan created by Saylor to invest $42 billion in Bitcoin. Additionally, the company debuted its preferred stock offering called STRK, which attracted $563.4 million in investor cash shortly after its launch last week.

As of February 3, MicroStrategy held 471,107 BTC, valued at about $44 billion, as Bitcoin slumped to $96,000 amid a market-wide correction fueled by mass liquidations. During its 12-week buying spree, the company spent around $20 billion on Bitcoin, acquiring as much as $1.1 billion worth of tokens on at least two occasions.

MicroStrategy's aggressive accumulation strategy has influenced other firms, such as Marathon Digital and Riot Platform, which have also been building Bitcoin treasuries while operating mining businesses.