MicroStrategy, now operating under the name Strategy, has significantly reduced its workforce while aggressively expanding its bitcoin holdings. The company disclosed in its audited 2024 annual report, filed Tuesday, that it cut 20.7% of its workforce as it more than doubled its cryptocurrency assets last year. The report revealed that Strategy employed 1,534 people as of December 31, marking a reduction of 400 employees from the previous year.
The most affected departments were research and development, which lost 144 positions, followed by consulting with 124 job cuts, and sales and marketing with 95 reductions. In contrast, the company employed 2,152 individuals in 2022. At the same time, Strategy dramatically increased its bitcoin holdings, acquiring 258,320 bitcoins in 2024 to bring its total to 447,470 by year-end, up from 189,150 at the end of 2023. The company invested approximately $22.1 billion in bitcoin last year, at an average purchase price of $85,447 per bitcoin.
Comparatively, its bitcoin assets stood at 132,500 in 2022 and 124,391 in 2021. The bitcoin accumulation has continued into 2025. So far this year, Strategy has spent roughly $3.2 billion to acquire 31,270 bitcoins at an average price of $101,232 per unit. As of February 17, the company’s total bitcoin holdings stood at 478,740, purchased for a cumulative $31.1 billion at an average price of $65,033 per bitcoin. Based on current market valuations, this cache would be worth around $45.1 billion.
In an unusual move, Strategy also disclosed specific periods when it did not purchase bitcoin. The company stated that it refrained from buying the cryptocurrency between February 10 and February 17, marking only the third such instance in 2025. The previous pauses occurred between January 27 and February 2, as well as January 1 to January 5. Notably, the firm had acquired bitcoin daily from October 31 through December 31, 2024.
Despite its aggressive cryptocurrency investment strategy, Strategy’s stock (NASDAQ: MSTR) declined 1.1% on Tuesday, reversing an earlier intraday gain of 0.8%. Over the past three months, the stock has dropped 13.3%, while bitcoin has gained 4% and the S&P 500 index has risen 3.7%. Meanwhile, bitcoin itself gained 1.4% on Tuesday, and the S&P 500 edged up 0.2% to a record high. The company’s bitcoin-focused approach has been a defining aspect of its financial strategy, distinguishing it from traditional enterprise software firms. – By CryptoWire News Desk.