MicroStrategy Pauses Bitcoin Buying Spree

MicroStrategy, a software company known for its significant investment in Bitcoin, has temporarily halted its Bitcoin buying spree. The company, which has been consistently purchasing the cryptocurrency for the past 12 weeks, announced the pause last week.

Michael Saylor, the co-founder and chairman of MicroStrategy, confirmed the halt on X (formerly Twitter), stating that the company did not sell any shares of class A common stock under its at-the-market equity offering program and did not purchase any Bitcoin last week. Despite the pause, MicroStrategy still holds 471,107 Bitcoin, worth approximately $46.6 billion at the current price.

MicroStrategy's aggressive Bitcoin buying strategy began in August 2020, when the company first announced its intention to invest in the cryptocurrency. Since then, the company has spent around $30.4 billion on Bitcoin, with the majority of these purchases occurring towards the end of last year and the beginning of 2025. The company's "21/21 Plan" aims to raise $42 billion to further invest in Bitcoin, with half of the funds coming from equity and the other half from fixed income securities.

MicroStrategy's stock has soared since the company first announced its Bitcoin investment. The stock was trading for $14.44 in August 2020 and has since increased to $332, a 2,199% increase. The company's aggressive Bitcoin strategy has also led to its inclusion in the Nasdaq-100 index, alongside tech titans like Apple and Microsoft.

The reasons behind MicroStrategy's temporary halt in Bitcoin purchases are not entirely clear. However, the company has announced a preferred share offering of roughly $250 million to purchase even more Bitcoin, which could indicate that the company is still committed to its long-term Bitcoin strategy. Investors and industry watchers will be keen to see how MicroStrategy balances its investment strategy amid evolving cryptocurrency dynamics.