Buying the Dip? MicroStrategy Buys 8,175 Bitcoin in $836M Deal

MicroStrategy could be buying the dip.

Today, executive chairman Michael Saylor announced the company's biggest Bitcoin acquisition since July. In total, the corporate Bitcoin giant acquired 8,175 BTC for the cost of $836 million. The company now owns a total of 649,870 $BTC, spending around $48 billion. 

Despite Bitcoin's recent dip, MicroStrategy is still comfortably at a profit with its BTC holdings. Its 649,870 $BTC stash acquired over the last five years is still in the green, with an average purchase price of roughly $74,000 per coin. With Bitcoin currently trading north of $90,000, the company’s position remains significantly profitable.

According to Saylor, the acquisition took place over the week of November 8–15, with the company buying Bitcoin every single day during that period.

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MicroStrategy alone owns 3.1% of the total Bitcoin supply, cementing its role as the largest corporate holder of Bitcoin worldwide. Its Bitcoin stockpile has recently become bigger than MicroStrategy's market capitalization, after a dip in MSTR shares pushed the company’s equity value below the market worth of its BTC holdings.

And yet, the company is doubling down on its Bitcoin treasury vision, even despite the cryptocurrency's tumble in recent weeks. 

Bitcoin is trading near $91,000 as of right now, still under immense selling pressure that has been building since late October. The digital asset is down by over 26% from its October 5 all-time high, as macroeconomic uncertainty and shaky U.S. tech stocks are weighing heavily on investor sentiment.

But despite that, MicroStrategy remains keen on continuing to expand its Bitcoin reserves even amid challenging conditions for the company and for the market. Michael Saylor has repeatedly emphasized that short-term volatility is irrelevant compared to Bitcoin’s long-term trajectory, and MicroStrategy is backing up that conviction with billions in fresh Bitcoin purchases.