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Historical Bitcoin price overlaid with MicroStrategy's major acquisition points. Dot size corresponds to the amount of BTC purchased.
| Date | Amount (BTC) | Avg Price | Total Cost | Current Value | Unrealized P&L |
|---|---|---|---|---|---|
| 2020-08-11 | 21,454 | $11,653 | $250,000,000 | $1,667,018,708 | +$1,417,018,708 (+566.8%) |
| 2020-09-14 | 16,796 | $10,419 | $175,000,000 | $1,305,082,792 | +$1,130,082,792 (+645.8%) |
| 2020-12-04 | 2,574 | $19,425 | $50,000,000 | $200,004,948 | +$150,004,948 (+300.0%) |
| 2020-12-21 | 29,646 | $21,925 | $650,000,000 | $2,303,553,492 | +$1,653,553,492 (+254.4%) |
| 2021-01-22 | 314 | $31,847 | $10,000,000 | $24,398,428 | +$14,398,428 (+144.0%) |
| 2021-02-02 | 295 | $33,898 | $10,000,000 | $22,922,090 | +$12,922,090 (+129.2%) |
| 2021-02-24 | 19,452 | $52,745 | $1,026,000,000 | $1,511,459,304 | +$485,459,304 (+47.3%) |
| 2021-03-01 | 328 | $45,732 | $15,000,000 | $25,486,256 | +$10,486,256 (+69.9%) |
| 2021-03-05 | 205 | $48,780 | $10,000,000 | $15,928,910 | +$5,928,910 (+59.3%) |
| 2021-03-12 | 262 | $57,252 | $15,000,000 | $20,357,924 | +$5,357,924 (+35.7%) |
| 2021-04-05 | 253 | $59,289 | $15,000,000 | $19,658,606 | +$4,658,606 (+31.1%) |
| 2021-05-13 | 271 | $55,351 | $15,000,000 | $21,057,242 | +$6,057,242 (+40.4%) |
| 2021-05-18 | 229 | $43,668 | $10,000,000 | $17,793,758 | +$7,793,758 (+77.9%) |
| 2021-06-21 | 13,005 | $37,601 | $489,000,000 | $1,010,514,510 | +$521,514,510 (+106.6%) |
| 2021-08-24 | 3,907 | $45,303 | $177,000,000 | $303,581,714 | +$126,581,714 (+71.5%) |
| 2021-09-13 | 5,050 | $48,099 | $242,900,000 | $392,395,100 | +$149,495,100 (+61.5%) |
| 2021-11-29 | 7,002 | $59,183 | $414,400,000 | $544,069,404 | +$129,669,404 (+31.3%) |
| 2021-12-09 | 1,434 | $57,462 | $82,400,000 | $111,424,668 | +$29,024,668 (+35.2%) |
| 2021-12-30 | 1,914 | $49,216 | $94,200,000 | $148,721,628 | +$54,521,628 (+57.9%) |
| 2022-02-01 | 660 | $37,879 | $25,000,000 | $51,283,320 | +$26,283,320 (+105.1%) |
| 2022-04-05 | 4,167 | $45,716 | $190,500,000 | $323,784,234 | +$133,284,234 (+70.0%) |
| 2022-06-29 | 480 | $20,833 | $10,000,000 | $37,296,960 | +$27,296,960 (+273.0%) |
| 2022-09-19 | 301 | $19,934 | $6,000,000 | $23,388,302 | +$17,388,302 (+289.8%) |
| 2022-12-22 · Sale | -704 | $16,761 | -$11,800,000 | -$54,702,208 | -$42,902,208 (363.6%) |
| 2022-12-22 | 2,395 | $17,871 | $42,800,000 | $186,096,290 | +$143,296,290 (+334.8%) |
| 2022-12-24 | 810 | $16,790 | $13,600,000 | $62,938,620 | +$49,338,620 (+362.8%) |
| 2023-03-27 | 6,455 | $23,238 | $150,000,000 | $501,566,410 | +$351,566,410 (+234.4%) |
| 2023-04-05 | 1,045 | $28,038 | $29,300,000 | $81,198,590 | +$51,898,590 (+177.1%) |
| 2023-06-28 | 12,333 | $28,136 | $347,000,000 | $958,298,766 | +$611,298,766 (+176.2%) |
| 2023-08-01 | 467 | $30,835 | $14,400,000 | $36,286,834 | +$21,886,834 (+152.0%) |
| 2023-09-25 | 5,445 | $27,052 | $147,300,000 | $423,087,390 | +$275,787,390 (+187.2%) |
| 2023-11-01 | 155 | $34,194 | $5,300,000 | $12,043,810 | +$6,743,810 (+127.2%) |
| 2023-11-30 | 16,130 | $36,782 | $593,300,000 | $1,253,333,260 | +$660,033,260 (+111.2%) |
| 2023-12-27 | 14,620 | $42,114 | $615,700,000 | $1,136,003,240 | +$520,303,240 (+84.5%) |
| 2024-02-06 | 850 | $43,765 | $37,200,000 | $66,046,700 | +$28,846,700 (+77.5%) |
| 2024-02-26 | 3,000 | $51,667 | $155,000,000 | $233,106,000 | +$78,106,000 (+50.4%) |
| 2024-03-11 | 12,000 | $68,475 | $821,700,000 | $932,424,000 | +$110,724,000 (+13.5%) |
| 2024-03-19 | 9,245 | $67,388 | $623,000,000 | $718,354,990 | +$95,354,990 (+15.3%) |
| 2024-04-29 | 122 | $63,934 | $7,800,000 | $9,479,644 | +$1,679,644 (+21.5%) |
| 2024-06-20 | 11,931 | $65,879 | $786,000,000 | $927,062,562 | +$141,062,562 (+17.9%) |
| 2024-08-01 | 12,222 | $65,881 | $805,200,000 | $949,673,844 | +$144,473,844 (+17.9%) |
| 2024-09-13 | 18,300 | $60,656 | $1,110,000,000 | $1,421,946,600 | +$311,946,600 (+28.1%) |
| 2024-09-20 | 7,420 | $61,752 | $458,200,000 | $576,548,840 | +$118,348,840 (+25.8%) |
| 2024-11-11 | 27,200 | $74,632 | $2,030,000,000 | $2,113,494,400 | +$83,494,400 (+4.1%) |
| 2024-11-18 | 51,780 | $88,837 | $4,600,000,000 | $4,023,409,560 | -$576,590,440 (-12.5%) |
| 2024-11-25 | 55,500 | $97,297 | $5,400,000,000 | $4,312,461,000 | -$1,087,539,000 (-20.1%) |
| 2024-12-02 | 15,400 | $97,403 | $1,500,000,000 | $1,196,610,800 | -$303,389,200 (-20.2%) |
| 2024-12-09 | 21,550 | $97,448 | $2,100,000,000 | $1,674,478,100 | -$425,521,900 (-20.3%) |
| 2024-12-16 | 15,300 | $98,039 | $1,500,000,000 | $1,188,840,600 | -$311,159,400 (-20.7%) |
| 2024-12-30 | 2,130 | $96,714 | $206,000,000 | $165,505,260 | -$40,494,740 (-19.7%) |
| 2025-01-06 | 1,070 | $94,393 | $101,000,000 | $83,141,140 | -$17,858,860 (-17.7%) |
| 2025-01-13 | 12,500 | $100,000 | $1,250,000,000 | $971,275,000 | -$278,725,000 (-22.3%) |
| 2025-01-21 | 11,000 | $100,000 | $1,100,000,000 | $854,722,000 | -$245,278,000 (-22.3%) |
| 2025-01-27 | 10,000 | $105,000 | $1,050,000,000 | $777,020,000 | -$272,980,000 (-26.0%) |
| 2025-02-03 | 15,000 | $103,333 | $1,550,000,000 | $1,165,530,000 | -$384,470,000 (-24.8%) |
| 2025-02-10 | 7,500 | $98,667 | $740,000,000 | $582,765,000 | -$157,235,000 (-21.2%) |
| 2025-02-18 | 12,000 | $95,833 | $1,150,000,000 | $932,424,000 | -$217,576,000 (-18.9%) |
| 2025-03-03 | 20,000 | $95,000 | $1,900,000,000 | $1,554,040,000 | -$345,960,000 (-18.2%) |
| 2025-03-17 | 15,000 | $93,333 | $1,400,000,000 | $1,165,530,000 | -$234,470,000 (-16.7%) |
| 2025-04-07 | 10,000 | $95,000 | $950,000,000 | $777,020,000 | -$172,980,000 (-18.2%) |
| 2025-05-12 | 12,000 | $95,000 | $1,140,000,000 | $932,424,000 | -$207,576,000 (-18.2%) |
| 2025-06-16 | 14,000 | $95,000 | $1,330,000,000 | $1,087,828,000 | -$242,172,000 (-18.2%) |
| 2025-07-21 | 15,000 | $95,000 | $1,425,000,000 | $1,165,530,000 | -$259,470,000 (-18.2%) |
| 2025-09-08 | 20,000 | $95,000 | $1,900,000,000 | $1,554,040,000 | -$345,960,000 (-18.2%) |
| 2025-11-17 | 25,000 | $745,174 | $18,629,361,900 | $1,942,550,000 | -$16,686,811,900 (-89.6%) |
| 2026-06-30 · Sale | -1,363 | $59,281 | -$80,800,000 | -$105,907,826 | -$25,107,826 (31.1%) |
| 2026-07-05 · Sale | -2,225 | $60,764 | -$135,200,000 | -$172,886,950 | -$37,686,950 (27.9%) |
| 2026-08-02 · Sale | -1,638 | $63,938 | -$104,730,000 | -$127,275,876 | -$22,545,876 (21.5%) |
| 2026-08-09 · Sale | -1,690 | $64,260 | -$108,600,000 | -$131,316,380 | -$22,716,380 (20.9%) |
Total Corporate Debt
$4,250,000,000
Principal amount of all convertible notes
Treasury Insolvency Price
$5,057
BTC price where debt exceeds treasury value
Safety Buffer
93.5% Drop
Required BTC crash to reach insolvency
Unlike retail traders on margin, MicroStrategy's debt is primarily composed of senior convertible notes. These notes are unsecured and do not have strict "margin call" liquidation thresholds based on daily Bitcoin price fluctuations. The "Insolvency Price" shown here represents the theoretical price at which the value of the company's Bitcoin treasury drops below the principal value of its outstanding debt obligations. This ignores the enterprise value of their software business and cash flows.
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