Saylor’s $900M Bitcoin Splash Marks Largest Crypto Purchase Since July
Michael Saylor just threw another billion-dollar vote of confidence at Bitcoin. The MicroStrategy chairman's latest acquisition—a cool $900 million worth of BTC—marks his firm's largest single buy since the summer, signaling a massive institutional bet as the year closes.
The Whale Moves In
Forget dipping a toe—this is a cannonball. The purchase, executed in early December, adds a significant chunk to MicroStrategy's already colossal Bitcoin treasury. It's a move that bypasses market chatter and speaks directly through capital allocation, reinforcing Saylor's long-stated thesis that Bitcoin represents the ultimate corporate treasury asset.
Timing the Tide
The buy comes at a pivotal moment. While traditional finance grapples with rate uncertainty and geopolitical jitters, Saylor's playbook remains singular: accumulate. The scale of this purchase suggests a strategic conviction that current prices present a generational entry point, not a peak. It's a stark contrast to the cautious, quarter-by-quarter hedging that defines legacy finance.
The Ripple EffectExpect this move to send shockwaves beyond crypto-native circles. When a publicly-traded company makes a near-billion-dollar bet, institutional desks take notice. It pressures other corporate treasuries to justify their cash-heavy—and inflation-exposed—balance sheets. After all, holding dollars while Saylor stacks sats looks less like prudence and more like negligence.
The Final Tally
Let's be clear: this isn't speculation. It's a calculated deployment of capital into what Saylor views as a superior monetary technology. While Wall Street analysts debate basis points and P/E ratios, this purchase cuts through the noise with pure, unadulterated conviction. It’s a masterclass in asymmetric betting—and a cynical reminder that while most CFOs are busy managing spreadsheets, the real alpha might just be in managing a private key. The message for 2026? The big money isn't just watching anymore. It's buying.
Strategy keeps issuing MSTR
Even at the current BTC price range, Strategy continued to issue MSTR common stock, for a total of $928.1M. The additional funds came from STRD, a junior preferred stock with 10% dividend. STRD is among the riskier common stocks, offering the highest dividend. Following the latest purchase, STRD traded at $79.30, within the middle of its range since launching in June.
This time, Strategy spent all proceeds from the sale, for a total of $963M excluding fees in a more ambitious weekly acquisition. The company did not set aside any funds for its $1.44B fiat reserve, which it claims can roughly cover two years of dividend payments.
Instead, Strategy managed to “buy the dip” on BTC, acquiring coins at a lower price range. Strategy’s playbook may work better in the case of an ongoing BTC bull market, but for now, the company has bought time on its obligations.
The BTC held in the treasury will not be sold for dividend payments, and there are no BTC-backed loans due at the current moment.
MSTR trades near one-month low
The latest common stock sale by Strategy happened despite the MSTR slump. MSTR shares traded at around $178, after bouncing from local lows under $160.
Previously, Strategy stated it WOULD not sell additional MSTR at a lower price range. However, it has not adjusted its playbook even with common stock dilution. MSTR faces a decision on its inclusion in the MSCI index on January 15, and its price may sink even lower after institutional selling.
Strategy’s mNAV to market capitalization is now at 0.89, meaning the BTC treasury is more valuable compared to the market cap of MSTR.
If you're reading this, you’re already ahead. Stay there with our newsletter.
