Back on October 31, 2024, MicroStrategy, $MSTR, made a statement that didn’t generate much noise outside of crypto circles: “We plan to use the additional capital to buy more Bitcoin as a treasury reserve.” At the time, its stock traded at $244.50, and Bitcoin was in a consolidation phase.
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Most investors saw it as business as usual for Michael Saylor’s firm, which had already become known for turning its balance sheet into a Bitcoin proxy. But this time was different. That October event, flagged on LevelFields under the Crypto Adoption category, marked the beginning of an aggressive multi-month strategy that sent the stock up more than 155%—reaching $381.97 by late June 2025.
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MicroStrategy had not made a reported Bitcoin purchase between April 5, 2023, and late 2024, meaning the October 31, 2024 signal came after a six-month pause, re-energizing investor attention on the company’s crypto strategy.
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Here’s how that run unfolded.

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A Timeline of Events That Moved the Stock

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Note: The numbered markers in the chart above represent major crypto adoption events flagged by LevelFields between October 2024 and June 2025. Each number corresponds to a key moment that influenced the stock’s trajectory.

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The October announcement wasn’t isolated. It kicked off a rapid series of high-impact events—each of which was surfaced on LevelFields as they happened:
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October 31, 2024 – Catalyst Ignites

• Event: MicroStrategy signals intent to use additional capital to buy more Bitcoin.
  
  
• BTC Purchased: 27,200 BTC (October 31–November 10, 2024, for ~$2.03 billion at ~$74,632 per BTC).
  
  
• 1-Day Impact: +3.65%
  
  
• Stock Price: $244.50
• Scenario Type: Crypto Adoption
  
  

This signaled a fresh phase of accumulation and drew early momentum from crypto-aligned investors.

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November 25, 2024 – More Bitcoin Purchases

• “MicroStrategy Buys More Bitcoin” (55,500 BTC acquired October 31–November 24, 2024, for ~$5.4 billion at ~$97,862 per BTC).
• BTC Purchased: Exact amount for November 25 alone is not isolated in sources. The 55,500 BTC includes purchases from October 31 to November 24, suggesting a significant portion (e.g., ~28,300 BTC after subtracting the October 31–November 10 purchase of 27,200 BTC) occurred closer to this date.
  
  
• 1-Day Impact: +2.05%
• Reinforced its position as a long-term BTC holder, continuing the bullish narrative.
  
  

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December 16, 2024 – Holdings Expand

• Event: Additional BTC purchase revealed
  
  
• BTC Purchased: 21,550 BTC (December 2–December 8, 2024, per Bloomberg).
  
  
• 1-Day Impact: +3.28%
• The company’s Bitcoin balance continued growing rapidly, giving the stock tailwinds from BTC’s rally.
  
  

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December 24, 2024 – Share Issuance Plans

• Event: Plans to issue more shares to buy Bitcoin
  
  
• BTC Purchased: 5,262 BTC (December 16–December 22, 2024, for ~$561 million at ~$106,662 per BTC).
  
  
• 1-Day Impact: +7.81%
• Market response was surprisingly positive, indicating strong investor appetite for the strategy.
  
  

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January 6, 2025 – $2B Preferred Stock Offering

• Event: Announced plan to raise $2 billion in preferred shares
  
  
• BTC Purchased: 1,070 BTC (December 30, 2024–January 5, 2025, for ~$101 million at ~$94,004 per BTC).
  
  
• 1-Day Impact: +11.61%
• This became the biggest single-day move in the sequence and turned MicroStrategy into a headline play for crypto investors.
  
  

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January 13, 2025 – 450,000 Bitcoin Milestone

• Event: Company confirms BTC holdings surpass 450,000 tokens
• BTC Purchased: 2,530 BTC (January 6–January 12, 2025, for ~$243 million at ~$95,972 per BTC).
• 1-Day Impact: +0.15%
• While the move was smaller, it cemented MicroStrategy’s position as the largest corporate holder of Bitcoin globally.
  
  

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February 5, 2025 – $600M More for Bitcoin

• Event: Raised another $600 million for more BTC purchases
• BTC Purchased: Exact amount not specified for February 5. Sources indicate 20,400 BTC purchased February 18–February 23, 2025, for ~$1.99 billion at ~$97,514 per BTC.
  
  
• 1-Day Impact: -3.34%
• Investor fatigue may have set in temporarily, as the market questioned the sustainability of repeated capital raises.
  
  

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February 18, 2025 – Workforce Reduction

• Event: Company laid off 20% of staff to streamline operations
• BTC Purchased: 20,400 BTC (February 18–February 23, 2025, for ~$1.99 billion at ~$97,514 per BTC).
  
  
• 1-Day Impact: -1.11%
• Signaled a cost-cutting phase that could support longer-term margins, but near-term sentiment dipped.
  
  

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May–June 2025 – Momentum Plateaus

• Events:
  
  
  
  • May 2: “Plan to Buy Even More Bitcoin” → +0.00%
    
    
  • June 10: “Buys $110 Million in BTC” → +0.00%
    
    
• Despite continued purchases, stock price impact was neutral—possibly due to priced-in expectations.

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Visualizing the Run

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According to Google Finance, MicroStrategy stock rose from $149.57 in July 2024 to a peak above $400 in March 2025, before settling around $381.97 in late June.
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The majority of that gain can be traced back to the October 31 catalyst and the early 2025 capital raise. These events aligned perfectly with a broader Bitcoin uptrend, creating a high-conviction momentum trade for investors tracking crypto-linked equities.

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Why This Matters

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What makes this rally notable isn’t just the percentage gain—it’s the clarity and frequency of signals. Every major move was publicly reported and flagged on LevelFields under Crypto Adoption or Capital Raise events. MicroStrategy didn’t pivot or surprise the market. It followed a consistent strategy: raise capital, buy Bitcoin, repeat.
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What changed was market sentiment. As Bitcoin began to rally, so did confidence in companies heavily tied to its performance. MicroStrategy became a public-market proxy for crypto exposure without needing to buy Bitcoin directly. And as capital flowed in, so did the price momentum.
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MicroStrategy’s 155% stock surge over 8 months didn’t come from hidden innovations or secret partnerships. It came from a simple, high-conviction thesis: Bitcoin will go up, and we’re going to own as much of it as possible.
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For investors tracking news-based catalysts, the October 31 signal was a clear marker that something big was starting. The LevelFields platform flagged each critical step—showing how event-driven analysis can help investors stay one move ahead of the market.
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If anything, MicroStrategy’s run offers a case study in the power of spotting repeatable behavior early—and the potential of using AI tools to track those patterns before the crowd catches on.

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