Saylor Loses Steam in Diminishing Bitcoin Purchases

MicroStrategy Founder Michael Saylor announced another major Bitcoin purchase today, amounting to $101 million.

MicroStrategy’s Bitcoin purchases have sharply declined over the last month, going from individual buys over $5 billion to this comparably small amount. Nonetheless, none of Saylor’s public statements have reflected this downward trajectory.

Will Saylor Keep Buying Bitcoin?

Since Michael Saylor began his vision of massive Bitcoin purchases, MicroStrategy has become one of the world’s largest BTC holders. Today, he made another massive buy, seemingly continuing a ravenous acquisition streak.

“MicroStrategy has acquired 1,070 BTC for ~$101 million at ~$94,004 per bitcoin and has achieved BTC Yield of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hold 447,470 BTC acquired for ~$27.97 billion at ~$62,503 per bitcoin,” Saylor claimed.

However, by this point, it’s clear that his campaign is steadily losing steam. In late November, MicroStrategy bought $5.4 billion in BTC in accordance with Bitcoin’s bull run.

The next big purchase was two weeks later, at $2.1 billion, and then $1.5 billion the following week. By the end of December, it went to $561 million, with $209 million right after that.

In other words, Saylor is quickly downsizing the scale of these Bitcoin buys. Analyst Jacob King even claimed that MicroStrategy is “running out of cash and the momentum is drying up.”

In mid-December, there was a persistent rumor that the firm may pause its BTC acquisition in January, but Saylor’s public statements haven’t reflected any potential breaks.

Indeed, all his public statements lead to the conclusion that Saylor wants to continue his aggressive Bitcoin purchase strategy. On January 4, he planned a $2 billion stock offering, claiming that the proceeds would go entirely to new buys. He has also encouraged the US government to carry out its own acquisition plan.

In other words, MicroStrategy’s public statements are not giving any direct acknowledgement of this switch. By this point, however, it’s extremely noticeable that Saylor can’t spend as much on Bitcoin as he used to.

Eventually, MicroStrategy will be forced to address this downward trend, but it’s unclear how the firm will move forward.