Michael Saylor Highlights Massive 258,320 BTC Milestone: Details

Michael Saylor Highlights Massive 258,320 BTC Milestone: Details

Michael Saylor’s MicroStrategy Buys 258,320 BTC in Record-Breaking 2024 Bitcoin Acquisition

Michael Saylor, the executive chairman and co-founder of MicroStrategy, recently shared the company’s record-breaking Bitcoin acquisition in a tweet, revealing that the firm bought a staggering 258,320 BTC in 2024. This acquisition, totaling $22.07 billion, came at an average price of approximately $85,450 per Bitcoin. The purchase marked a remarkable 74.3% yield on Bitcoin for the year.

MicroStrategy started 2024 holding 189,150 BTC and by the end of the year, it had added 140,630 BTC to its reserves, averaging about 385 BTC per day. This bold move to increase Bitcoin holdings has been extremely profitable for the company. According to Saylor, with Bitcoin’s current price hovering around $100,000, this acquisition resulted in a $14.06 billion increase in shareholder value in 2024, equating to $38.5 million per day.

Reflecting on the firm’s Bitcoin strategy, Saylor shared a tweet earlier today featuring the SaylorTracker, a graph that tracks MicroStrategy’s Bitcoin purchases, alongside the phrase “This all started with a single green dot.” The tracker has become a symbol of the firm’s relentless Bitcoin accumulation strategy, which began years ago.

In another tweet, Saylor announced that MicroStrategy had purchased an additional 1,070 BTC for nearly $101 million, bringing its total Bitcoin holdings to 447,470 BTC as of January 5, 2025. This continuous strategy highlights MicroStrategy’s unwavering commitment to Bitcoin, which has undoubtedly contributed to the company’s significant gains.

Bitcoin Price Outlook

Bitcoin has been performing well, especially after a seven-day price rally that saw it reach a high of $102,500 on Monday. It briefly surged to $102,735 during today’s trading session before encountering some resistance and pulling back slightly. At the time of writing, Bitcoin is trading at $100,600, up by 0.32% in the last 24 hours.

Crypto analyst Ali provided insight into Bitcoin’s current price action, noting that Bitcoin is firmly supported above an important price zone between $95,400 and $98,400, where 1.77 million addresses hold over 1.53 million BTC. However, the resistance ahead appears minimal, with only a slight supply wall of 107,000 BTC between $104,700 and $105,770.

Glassnode's founders, known as “Negentropic,” also weighed in on Bitcoin’s price movement, focusing on the $101,500-$102,500 consolidation zone. They suggest that a retest of the psychological $100,000 level will determine whether Bitcoin can hold above the $90,000 to $100,000 range or if a pullback to lower levels will occur.

Bitcoin’s price continues to face volatility, but with increasing institutional interest and strong support levels, it seems to be holding strong in the $100,000 range.