Today, MicroStrategy announced it purchased an additional 15,400 bitcoin for approximately $1.5 billion. This brings its total holdings to over 400,000 BTC, almost 2% of the entire bitcoin supply.

MicroStrategy now owns 402,100 #bitcoin worth $38 BILLION

They now own almost 2% of the total bitcoin supply 🤯 pic.twitter.com/lbEpHNer7T

— Nikolaus Hoffman (@NikolausHoff) December 2, 2024

In the month of November, bitcoin rose almost 40% while MicroStrategy bought over $12 billion in bitcoin. In total, MicroStrategy now owns over $38 billion in bitcoin.

Other companies are now starting to copy the Microstrategy play book and run their strategy of accumulating bitcoin as a strategic reserve asset. Saylor even presented to Microsoft’s CEO and board of directors on why they should adopt a bitcoin standard. Microsoft is the third largest company in the world by market cap, and is voting on whether or not they should add bitcoin to their balance sheet. Insane!

Publicly traded bitcoin miner MARA is also copying MicroStrategy’s playbook and announced today that they’re raising up to $805 million in debt to buy more bitcoin.

Do you get it yet?

This is not going to stop any time soon. We have officially entered a new era of bitcoin accumulation that is being led by these large corporations. Saylor, MicroStrategy, and other companies are going to scoop up every available coin they can get their hands on. And if they’re as convicted as MicroStrategy is — they’re not selling. That’s not even to mention the other big players now (BlackRock, Fidelity, ARK, etc) buying up coins for their ETFs. The amount of demand for bitcoin today is surreal.

Companies that adopted a Strategic #Bitcoin Reserve this month:

– Rumble
– LQR House
– Remixpoint
– Genius Group
– Cosmos Health
– Jiva Technologies
– Hoth Therapeutics
– Thumzup Media Corp
– Acurx Pharmaceuticals

And this is just the beginning 🚀 pic.twitter.com/6YW7D2DnRn

— Nikolaus Hoffman (@NikolausHoff) November 27, 2024

I think that everyone (this message is mainly for the newer Bitcoiners) should follow suit in adopting their own personal strategic bitcoin reserve for themselves and their families. I’m not saying or advising anyone to take on debt to buy bitcoin, but rather adopt it as your primary savings account and sit back and take in all the benefits of holding bitcoin — especially in regards to holding your own private keys.

The plan is simple: buy bitcoin, secure it safely, and hold it for the long term. If you sell, you will be selling directly into the hands of MicroStrategy and every other company running this playbook.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

​ When you sell bitcoin, MSTR and others are buying it. 

We can’t live in a world where somebody starts a company that’s a completely legal thing, and then they literally [] get sanctioned [] and embargoed by the United States government through a completely unaccountable [process] by the way. No due process. None of this is written down. There’s no rules. There’s no court, there’s no decision process. There’s no appeal. Who do you appeal to, right? [] Who do you go to to get your bank account back? 

— Marc Andreessen, speaking to Joe Rogan, published on 11/26/2024

In yet another troubling manifestation of “Chokepoint 2.0,” a Wyoming company was summarily debanked in early November, 2024, by Mercury, a banking platform operated with Evolve Bank (and other banking partners). After years of seamless operations and exemplary service, Mercury abruptly terminated the account without clear cause. The excuse? A vague nod to “internal factors” that remain as opaque as the regulatory pressures likely behind them.

Let’s be clear: The company’s banking activity was uncontroversial. The only potential offense is that the company accepts a sizable portion of its customer payments in Bitcoin. Aside from monthly wires from Kraken (a regulated crypto exchange), its transactions included rent, utility payments, hardware store purchases, and subcontractor invoices.

The termination couldn’t have had anything to do with risky behavior or financial misconduct. Instead, the closure is emblematic of a systemic effort to hobble Bitcoin businesses by exploiting the centralized banking choke points regulators have turned into tools of suppression.

This is Chokepoint 2.0 in action. Regulators have found new ways to suppress industries they disfavor—this time, targeting Bitcoin miners and businesses. Instead of legislative debate or due process, unelected bureaucrats leverage their oversight of banks to nudge them into “de-risking” clients that engage in entirely legal activities. The company was simply collateral damage in the campaign to isolate Bitcoin from the traditional financial system.

This is a chilling echo of Operation Chokepoint 1.0, where federal regulators illegally pressured banks to cut off services to lawful but disfavored industries, such as firearms dealers and payday lenders. That campaign ended in disgrace when the FDIC was forced to settle a lawsuit in 2019. The settlement affirmed what should have been obvious: weaponizing the financial system against legal businesses is unconstitutional. Regulators know this—and yet here we are again.

Why This Matters

Debanking isn’t just an inconvenience. For businesses, it’s existential. Operating without a reliable banking partner in today’s economy is like trying to breathe without air. When banks are coerced into severing ties with Bitcoin-related companies, it sends a chilling message: engage in this industry at your peril. It also stifles innovation, a dangerous precedent for a country founded on economic freedom.

Moreover, this practice undermines the core tenet of fairness in financial services. The American banking system isn’t a private fiefdom. It operates under public charters and with public trust, and its gatekeepers should not act as arbiters of political or ideological purity.

The harm extends beyond Bitcoin. If regulators can throttle this industry, what stops them from targeting others? What happens when innovation, dissent, or inconvenient truths are deemed “too risky” for the comfort of entrenched powers? This is about more than Bitcoin—it’s about the integrity of the financial system and the preservation of free markets.

A Call to Action: Accountability for Regulators

The new Congress and Trump administration must seize this moment to hold the architects of Chokepoint 2.0 accountable. This isn’t a partisan issue; it’s a constitutional one. Regulators acting as de facto lawmakers, imposing policies that would never survive public scrutiny, must be reigned in.

1. Investigations into Regulatory Overreach

Congress must launch comprehensive investigations into the agencies pressuring banks to sever ties with Bitcoin businesses. Who issued these directives? Under what authority? The American people deserve answers, and the offending parties deserve consequences.

1. Personal Accountability for Regulators

Bureaucrats who abuse their power should not be shielded by the anonymity of the regulatory machine. Those responsible for weaponizing the financial system against lawful businesses must be named, shamed, and removed from their positions, permanently lose any security clearances they may have, and potentially lose their government pensions and retirement benefits.

1. Restoration of Due Process

Any decisions to restrict banking access should require clear, codified standards and a transparent appeals process. No more shadow rules. If a business is to be debanked, the reasons should be public, defensible, clearly articulated & defined, grounded in law, and appealable.

1. Legislation to Protect Financial Access

Congress should pass laws prohibiting banks from discriminating against lawful industries based on political or ideological reasons. The free market thrives on neutrality; it withers under bias.

1. Decentralization of Financial Systems

Bitcoin exists as a hedge against precisely this kind of overreach. Policymakers should embrace and encourage its growth, not fight it. America cannot afford to fall behind in the global race for financial innovation.

Much of the above could be addressed through Section 10 of the SAFER Banking Act, which directly limits undue regulatory influence over banking services. Specifically, it prohibits federal banking agencies from pressuring financial institutions to terminate relationships with lawful businesses, including those in the Bitcoin and cryptocurrency industry, based on reputational risks or political motivations. This provision reinforces the principle that decisions about financial services should rely on risk-based analysis of individual accounts rather than blanket biases against entire industries. By codifying such protections, the SAFER Banking Act would promote fairness and transparency in financial services, ensuring that regulators adhere to their duties of impartial oversight while respecting the rights of businesses operating legally under state or federal law.

In addition to legislative solutions, the presence of even one bank with the willingness and capability to resist undue regulatory pressure could dramatically reshape the financial landscape for Bitcoin businesses. Caitlin Long’s Custodia Bank, based in Wyoming, exemplifies this potential. Custodia has consistently demonstrated its commitment to operating within the law while challenging the overreach of federal regulators, as seen in its lawsuit against the Federal Reserve.

A bank with this level of resolve, direct access to the Federal Reserve itself, and a proven track record of standing up to regulators will provide a lifeline for Bitcoin (and other) businesses seeking reliable financial services. By fostering an ecosystem where lawful businesses can thrive without fear of arbitrary debanking, Custodia Bank offers a template for how other institutions might follow suit, ensuring that innovation and economic freedom remain protected.¹

Taken together, the SAFER Banking Act and the perseverance of institutions like Custodia Bank represent two critical fronts in the fight against financial discrimination. While the SAFER Act provides a legislative framework to curtail regulatory overreach and protect lawful businesses from debanking, it has faced significant resistance, having been introduced multiple times in Congress only to be repeatedly blocked. Meanwhile, Custodia Bank’s struggle underscores the severity of institutional hostility; the Federal Reserve’s refusal to grant Custodia access to the banking system forced the bank to file a federal lawsuit just to claim its rightful place in the financial ecosystem. These challenges highlight the entrenched opposition to reform, but they also emphasize the urgent need for a multi-pronged strategy—legislative, judicial, and entrepreneurial—to ensure fair and impartial access to banking services for all lawful businesses.

Bitcoiners: The Frontline of Freedom

Bitcoin isn’t just money; it’s an idea—an idea that money and power belong to the people, not the state. This is why we’re here. This is why Bitcoin exists. The legacy financial system is crumbling under its own corruption, and every act of suppression only underscores the need for decentralized alternatives.

To be clear, I don’t fully blame Mercury and Evolve for this. They’re likely being forced into it by their regulators.² Indeed, due to the Orwellian Bank Secrecy Act, the banks aren’t allowed to disclose the reasons for these matters to the affected customers. Banks like Mercury, and any others who have willingly cooperated with Chokepoint 2.0 should be subject to Congressional Subpoenas to explain themselves, and also name-and-shame the regulators who coopted them.

The future of Bitcoin—and America’s role as a leader in innovation—depends on exposing and dismantling Chokepoint 2.0, and holding all those who participated in it accountable.

¹ Of course, Custodia Bank having a master account doesn’t eliminate the possibility of governmental censorship, but it does force it to be direct and open, rather than the indirect, hidden, and unappealable route the regulators can take now. See this x-post by Caitlin Long.

² Another reason to believe that, in the case of Mercury and Evolve, the regulators are responsible, is that Evolve Bank was penalized in June 2024 by the Federal Reserve, and likely forced into these actions by their overreaching and overreactive regulators as part of that penalty.

This is a guest post by Colin Crossman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

​ Why regulators must be held accountable for the consequences of Operation Chokepoint 2.0. 

Bitcoin is closing out one of its most remarkable months in history, surging over $30,000 in November and marking a renewed bullish sentiment in the market. As we look ahead to December and beyond, investors are eager to understand whether Bitcoin’s momentum can sustain itself into 2025. With macroeconomic conditions, historical trends, and on-chain data aligning in Bitcoin’s favor, let’s analyze what’s happening and what it could mean for the future.

November’s Record-Breaking Performance

November 2024 wasn’t just any month for Bitcoin; it was historic. Bitcoin’s price rose from around $67,000 to nearly $100,000, an approximate 50% peak-to-trough increase, making it the best-performing month ever in terms of dollar increase. This rally rewarded long-term holders who endured months of consolidation after Bitcoin’s all-time high of $74,000 earlier in the year.

View Live Chart 🔍

Historically, Q4 is Bitcoin’s strongest quarter, and November has often been a standout month. December, which has also performed well in past bull cycles, presents a promising outlook. But as with any rally, some short-term cooling might be expected.

View Live Chart 🔍

The Role of the Dollar and Global Liquidity

Interestingly, Bitcoin’s rise occurred against the backdrop of a strengthening U.S. Dollar Strength Index (DXY), a scenario that typically sees Bitcoin underperforming. Historically, Bitcoin and the DXY have maintained an inverse relationship: when the dollar strengthens, Bitcoin weakens, and vice versa.

View Live Chart 🔍

Similarly, the Global M2 money supply, another key metric, has shown a slight contraction recently. Bitcoin has historically correlated positively with global liquidity; thus, its current performance defies expectations. If liquidity conditions improve in the coming months, this could act as a powerful tailwind for Bitcoin’s price.

View Live Chart 🔍

Parallels to Past Bull Cycles

Bitcoin’s current trajectory is strikingly similar to past bull markets, particularly the 2016–2017 cycle. That cycle began with gradual price increases before breaking key resistance levels and entering an exponential growth phase.

In 2017, Bitcoin’s price broke out from a key technical level of around $1,000, leading to a parabolic rally that peaked at $20,000, a 20x increase. Similarly, the 2020-2021 cycle saw Bitcoin rise from $20,000 to nearly $70,000 after breaking above the crucial YoY Performance threshold.

View Live Chart 🔍

If Bitcoin can break out decisively from this historic level and above the key $100,000 resistance, we may witness a repeat of these explosive price movements as BTC enters its exponential phase of bullish price action.

Institutional Adoption and Accumulation

A key factor underpinning Bitcoin’s strength is the continued accumulation by institutions. Bitcoin ETFs are adding billions of dollars worth of BTC to their holdings, and corporations like MicroStrategy have doubled down on their Bitcoin strategy, now holding close to 400,000 BTC. Even with BTC rallying to new all-time highs, ‘smart money’ is scrambling to accumulate as much as possible to ensure they’re not left behind.

View Live Chart 🔍

This institutional demand indicates growing confidence in Bitcoin as a long-term store of value, even in volatile market conditions. Such accumulation also tightens the available supply, creating upward pressure on prices as demand increases.

Conclusion

While December has historically been a strong month for Bitcoin, short-term volatility could temper gains as the market digests November’s sharp rally. Although given the aggressive accumulation we’re witnessing from institutional participants anything is possible.

Longer-term, however, the outlook remains exceptionally bullish. The obvious level to watch is $100,000 as the next major milestone, which, if breached, could pave the way for a much larger rally in 2025. Bitcoin is entering one of its most exciting phases yet, with the stars seemingly aligning across macroeconomic, technical, and on-chain metrics.

For a more in-depth look into this topic, check out a recent YouTube video here: The BIGGEST Bitcoin Month EVER – So What Happens Next?

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​ From Historic Gains to Future Growth: What the November Bitcoin Price Breakthrough Means for Investors in December.