- Michael Saylor’s company bought 397 Bitcoins last week, worth about $45.6 million, at an average price of $114,771 per coin.
- The company’s total Bitcoin holdings currently stand at over 641,200 BTC, acquired at an average cost of $74,047 per coin, and has returned 26.1% year-to-date.
- The slowdown in monthly Bitcoin purchases reflects broader changes in institutional crypto investing, with October’s acquisitions being the smallest in recent years.
- Analysts have warned that a decline in institutional purchases (particularly ETFs and MicroStrategy) could prevent Bitcoin prices from recovering towards historic highs.
- The market’s recovery will depend on new, large-scale demand, and there is potential for significant upside if institutional investors resume aggressive savings.
Bitcoin acquisition slows down amid market uncertainty
Michael Saylor’s MicroStrategy added another 397 Bitcoins last week, worth about $45.6 million. According to recent filings with the U.S. Securities and Exchange Commission, purchases were made at an average price of $114,771 per coin. As a result, the company’s total Bitcoin holdings now exceed 641,200 BTC, totaling approximately $47.49 billion, with an average acquisition cost of $74,047 per coin. Year-to-date, MicroStrategy’s Bitcoin portfolio has gained 26.1%.
Compared to the previous month, this activity shows a slowdown. The total purchase amount in October was only 778 BTC, which was significantly lower than the 3,526 BTC in September, which saw a 78% increase. Last week’s small purchases continued the trend of tapering accumulations and underlined a cautious stance amid evolving market conditions.
Strong institutional demand remains a key factor for Bitcoin’s long-term recovery and growth, especially from ETFs and companies like MicroStrategy. Recent data shows these major companies have slowed their buying activity, raising concerns about whether the market as a whole will maintain the bullish momentum needed to push Bitcoin back toward all-time highs.
CryptoQuant analyst Ki Young Ju points out that demand is primarily driven by ETFs and MicroStrategy, both of which have recently scaled back their accumulation activity. He emphasized that if these channels make large purchases again, market momentum could be restored and Bitcoin’s rally to new highs could be reignited.
As the debate over cryptocurrency regulation and institutional involvement continues, many experts see new accumulation by institutional investors as essential to a sustained recovery in blockchain-powered assets and the evolving landscape of the DeFi market, with many watchers eyeing the possibility of Bitcoin surging towards the $150,000 level as pressure mounts on Ethereum and other major tokens.