Michael Saylor Closes 2024 Still “Buying the Top”

Despite a rough December, MSTR is up dramatically on the year, giving Michael Saylor’s never-stop buying strategy a polish.

As the MicroStrategy CEO said on CNBC earlier this month, “we’ll just keep buying the top forever.”

Comparing bitcoin to Manhattan real estate, Saylor added, “it’s always a good investment to invest in the economic capital of the free world.”

That’s a long-term view that lets him shrug as his stock ends the year down almost 45% from its Nov. 20 high of $543. With its current price of $303, he’s still up 690% from the stock’s low of $43.87 early in the year.

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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.

But that hasn’t stopped Saylor from buying. He announced his last bitcoin purchase of the year on Dec. 29, driving MicroStrategy’s holding up to 446,400 BTC. A good chunk of that came in the last two months, as MicroStrategy has announced a big buy every week for the past eight weeks, even as bitcoin continued to slide.

The 2,138 bitcoins in his latest buy cost the firm about $209 million, bringing the bitcoin treasury firm’s total outlay to $27.9 billion for a horde of cryptocurrency now worth $41.4 billion.

Along the way, Saylor has suggested that the U.S. could “neutralize” the national debt with a strategic bitcoin reserve.

That last part, at least, is an idea that has gained traction with the incoming Trump Administration. Whether it will become a reality is another story. But if it does, bitcoin, and Saylor’s reputation, is likely to soar again.