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Introduction
MicroStrategy, the world’s largest public Bitcoin holder, dramatically slowed its BTC acquisition pace in October. The company purchased just 778 BTC last month, representing a 78% decline from September’s buying activity. Despite the slowdown, the firm continues adding to its massive Bitcoin treasury, though the deceleration raises questions about the sustainability of its aggressive accumulation strategy amid Bitcoin’s price surge above $113,000.
Key Points
- October Bitcoin purchases totaled 778 BTC, down 78% from September's 3,526 BTC
- Latest acquisition of 390 BTC cost $43.3 million at average price of $111,117 per Bitcoin
- Buying activity slowdown occurred despite Bitcoin's price surge above $113,000
October Slowdown Marks Significant Shift in Acquisition Strategy
MicroStrategy posted one of its slowest months for Bitcoin buying in October, with total purchases plummeting to just 778 BTC compared to 3,526 BTC in September. This 78% decline represents a dramatic deceleration in the company’s famously aggressive Bitcoin accumulation strategy. The slowdown occurred despite Bitcoin’s continued price appreciation, suggesting potential strategic recalibration or market timing considerations by Michael Saylor’s firm.
The October purchasing figures mark a stark contrast to the company’s historical buying patterns. As the world’s largest public Bitcoin holder, MicroStrategy has built its reputation on consistent, substantial BTC acquisitions regardless of market conditions. The sharp reduction in buying activity last month signals a potential shift in approach, though the company continues to maintain its long-standing commitment to Bitcoin as a primary treasury reserve asset.
Latest SEC Filing Reveals Continued But Slower Accumulation
According to a US Securities and Exchange Commission filing on Monday, MicroStrategy purchased 390 Bitcoin for $43.3 million in its most recent acquisition last week. The purchases were executed at an average price of $111,117 per BTC, demonstrating the company’s continued willingness to buy at elevated price levels. This latest transaction brings the company’s total Bitcoin holdings to approximately 226,331 BTC, maintaining its position as the largest corporate Bitcoin holder globally.
The SEC filing provides crucial transparency into MicroStrategy’s ongoing Bitcoin strategy, revealing that while buying activity has slowed considerably since September, the fundamental approach remains unchanged. The company continues to allocate corporate treasury funds to Bitcoin acquisitions, though the scale and frequency have diminished. This pattern suggests a more measured approach to accumulation rather than an abandonment of the core strategy championed by Michael Saylor.
Buying Slowdown Contrasts With Bitcoin's Price Momentum
The reduced purchasing activity comes amid strong positive momentum in Bitcoin markets, with CoinGecko data showing BTC rising past $113,000 on Tuesday. This price appreciation creates an interesting dynamic for MicroStrategy’s accumulation strategy, as the company typically cites Bitcoin’s long-term value proposition as justification for purchases at any price level. The slowdown suggests potential concerns about current valuations or strategic patience in waiting for more favorable entry points.
Michael Saylor’s strategy has historically emphasized consistent dollar-cost averaging into Bitcoin regardless of short-term price movements. The October slowdown represents a departure from this pattern, occurring during a period of significant price strength. This development may indicate evolving treasury management considerations or response to changing market conditions, though the company maintains its position as the most prominent corporate advocate for Bitcoin adoption in traditional finance.
📎 Read the original article on cointelegraph.com