Michael Saylor‘s MicroStrategy saw dramatic 2024 gains despite a December slump, with shares up 690% from early-year lows. Saylor remains committed to “buying the top,” likening Bitcoin to Manhattan real estate as a long-term investment.
In spite of a challenging December, MSTR has experienced a significant increase in value for the year, which has further refined Michael Saylor’s never-ending purchasing strategy.
As the MicroStrategy CEO said on CNBC earlier this month, “we’ll just keep buying the top forever.”
Saylor further stated that “it is consistently advantageous to invest in the economic capital of the free world” when comparing bitcoin to Manhattan real estate.
That is a long-term perspective that enables him to sigh as his stock concludes the year at nearly 45% below its high of $543 on November 20. He is still up 690% from the stock’s nadir of $43.87 at the beginning of the year, which is currently priced at $303.
Nasdaq Add
Bouncing into the Nasdaq 100, as MicroStrategy did on Dec. 23, certainly helped his reputation, if not his stock price, which slid dramatically along with bitcoin.
The oldest cryptocurrency dropped from its post-election “Red Rally” all time high of $108,135 on Dec. 17 to a current price around $92,500.
However, this has not deterred Saylor from purchasing. On December 29, he disclosed his final bitcoin acquisition of the year, which increased MicroStrategy’s holdings to 446,400 BTC.
MicroStrategy has announced a significant acquisition every week for the past eight weeks, despite the fact that bitcoin has continued to decline, and a significant portion of this has occurred in the past two months.
The bitcoin treasury firm’s total expenditure for a horde of cryptocurrency now valued at $41.4 billion is $27.9 billion, with the 2,138 bitcoins in his most recent purchase costing the firm approximately $209 million.
Along the way, Saylor has suggested that the U.S. could “neutralize” the national debt with a strategic bitcoin reserve.
An idea that has garnered traction with the incoming Trump Administration is at least that last part. The question of whether it will become a reality is a separate matter. However, if it does, it is probable that bitcoin and Saylor’s reputation will experience a resurgence.
