MicroStrategy Adds Another 18,300 Bitcoins, Total Holdings Surpass 244,800, Representing 1% of Total Issued Bitcoin
MicroStrategy Adds Another 18,300 Bitcoins, Total Holdings Surpass 244,800, Representing 1% of Total Issued BitcoinMicroStrategy Inc., the publicly listed company with the largest Bitcoin holdings globally, has doubled down on its commitment to the cryptocurrency
MicroStrategy Adds Another 18,300 Bitcoins, Total Holdings Surpass 244,800, Representing 1% of Total Issued Bitcoin
MicroStrategy Inc., the publicly listed company with the largest Bitcoin holdings globally, has doubled down on its commitment to the cryptocurrency. On Friday, September 13th, MicroStrategy filed a document with the US Securities and Exchange Commission (SEC) disclosing that the company had purchased 18,300 bitcoins for approximately $1.11 billion between August 6th and September 12th, marking its largest purchase in over three years. The last time MicroStrategy had made such a hefty investment was in February 2021, when it acquired 19,452 bitcoins for $1.026 billion.
As of the latest filing, MicroStrategy holds a total of 244,800 bitcoins, representing about 1% of the total issued bitcoins. Based on the closing price of Bitcoin at $59,700 on CoinMarketCap, MicroStrategy's Bitcoin holdings have a market value of approximately $14.6 billion. In contrast, the iShares Bitcoin Trust, managed by BlackRock, has a market value of only around $20 billion. This means that MicroStrategy's holdings alone surpass over 70% of the size of the world's largest spot Bitcoin ETF.
According to the document, the cumulative cost of MicroStrategy's over 240,000 bitcoins is approximately $9.45 billion, with an average purchase price of around $38,585 per bitcoin. Considering the current market price, this has been a significant investment. On Friday, Bitcoin witnessed a surge in price immediately after the US market opened, breaking through $59,000 by midday. The price continued to climb after the US market closed, surpassing the $60,000 mark for the first time since late August, marking an increase of over 10% in the last 24 hours.
MicroStrategy began adopting Bitcoin as part of its capital allocation strategy in 2020. Company co-founder and chairman Michael Saylor has explained the company's Bitcoin holdings as a hedge against inflation. Saylor took to social media platform X on Friday to reveal that MicroStrategy's Bitcoin returns have reached 17% this year. This figure implies that the company has generated a 17% increase in value for its shareholders by using stock sale proceeds to buy Bitcoin.
Earlier this week, Saylor told CNBC that MicroStrategy is essentially providing a different type of Bitcoin investment opportunity. The company's mission is to securitize Bitcoin, bridging the gap between traditional mainstream investors and Bitcoin as an institution.
Tag: Total MicroStrategy Adds Another Bitcoins Holdings Surpass Representing of
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.
