MicroStrategy has not purchased Bitcoin for two weeks according to regulatory filings submitted to the SEC. The company reported no trading activity between September 8 and September 13. As of September 13, the firm held approximately 845,050 BTC, acquired for a total of $63,73 billion at an average price of $75,412 per coin.
Executive Chairman Michael Saylor recently posted a message on social media suggesting a potential resumption of Bitcoin acquisitions. The company's last disclosed purchase occurred on August 31, when it bought 4,603 BTC for $369,7 million. This transaction followed a 10-week period of inactivity.
Financial constraints currently influence the company's strategy. During the week ending September 13, MicroStrategy spent $139,3 million on share buybacks rather than Bitcoin. The firm currently maintains $1,30 billion in its designated purchase account. The company has also sold portions of its holdings this year to support its share price.
A public debate regarding Bitcoin's market status emerged after investor Jason Calacanis described recent price movements as a dead cat bounce. Calacanis argued that Bitcoin lacks utility for smart contracts and payments. Michael Saylor responded by highlighting Bitcoin's growth since 2011 and its current valuation of $1,6 trillion.
Cathie Wood of ARK Invest also challenged the characterization of Bitcoin as a dead cat bounce. Market data shows the asset trading at $81,292, which remains above the recent low of approximately $75,000. MicroStrategy typically discloses any new Bitcoin purchases every Monday.
