MicroStrategy Holds Over 1% of Total Bitcoin Supply

MicroStrategy further solidified its position as a major player in the cryptocurrency space by adding an additional 9,245 BTC at a value of $623 million.

Azcnews (4)

The company MicroStrategy, listed on the Nasdaq stock exchange and known for its aggressive investment strategy in Bitcoin, has strongly consolidated its position in the cryptocurrency sector. They just announced the purchase of an additional 9,245 BTC for a total value of up to 623 million USD, increasing their ownership percentage to over 1%.

Additionally, the company disclosed a multi-million dollar Bitcoin purchase, bringing its total Bitcoin holdings to 214,246 BTC. The company made the transaction primarily through the sale of convertible bonds, in a continuation of its efforts following last week’s $821.7 million Bitcoin acquisition.

MicroStrategy’s move into the Bitcoin space began in 2020, under the leadership of President and Co-Founder Michael Saylor. Mr. Saylor has claimed Bitcoin is a hedge against inflation and an alternative to holding cash.

With the latest transaction, MicroStrategy now has about $14 billion in Bitcoin on hand, purchased at an average price of about $35,160 per BTC. Meanwhile, Bitcoin price is currently trading at around $64,750, after falling more than 9.5% over the past week from its all-time high of $73,400.

Bitcoin’s supply cap at 21 million coins adds a new layer of appeal to MicroStrategy’s strategy. With approximately 19.7 million issued tokens, the company’s token holdings represent a significant portion of the total available supply, which is expected to reach its maximum by 2140. As reported by CryptoGlobe, these short-term investments have suffered losses of an estimated $3.3 billion due to MicroStrategy’s large holdings of Bitcoin, causing the company’s stock price to surge along with the price of the cryptocurrency this year.

Screenshot 19 3 2024 191719 saylortracker.comMicroStrategy’s Bitcoin Holdings. Source: Saylortracker

MicroStrategy has publicly identified itself as a “Bitcoin Development Company” and may continue to purchase Bitcoin. Executive Chairman and Co-Founder, Michael Saylor, has denied concerns about growing competition in Bitcoin purchases and pointed out that the company is well positioned to capitalize on the transformation of digital capital from traditional analog systems to the digital economy.

Related: Peter Schiff Warns of Major Bitcoin (BTC) Crisis

Saylor makes the argument that Bitcoin has become a trillion-dollar asset class, comparing its importance to major technology companies such as Apple, Google and Microsoft. However, he noted that Bitcoin, unlike these companies, represents a comprehensive asset class capable of holding large amounts of capital, and he argued that it competes with traditional store-of-value assets systems such as gold, S&P 500 and real estate, it is predicted that capital will continue to move from these asset classes to Bitcoin due to its technical superiority.


(2 votes)
  1. Avatar of

    Great job

Leave a Reply

Your email address will not be published. Required fields are marked *


Azcoiner Exclusive Event On Bingx

Airdrops | Altcoin | Editor Choice

AZcoiner Exclusive Event on BingX

Join the exclusive event hosted by AZCoiner in collaboration with the BingX exchange to receive attractive rewards of up to $2000. Participate now to avoid missing out!

Azcnews Breaking

Editor Choice | Research

What is Pump and Dump? What Should You Do When This Phenomenon Occurs?

The phenomenon of Pump & Dump is quite prevalent in the cryptocurrency market. So, what is Pump? What is Dump? And what should you do when this phenomenon occurs? Let's find out through the article below!

Azcnews1 Breaking

Editor Choice | Research

What is Runes Protocol? The Protocol Generating Heat Ahead of the Halving

After Halving, the narrative will only revolve around Bitcoin and Runes is a story just like that. So, what is Runes protocol? Let's find out right away!

Azcnews Breaking

Editor Choice | Research

What is Staking Crypto? Tips to Maximize Profit When Holding Coins

When you hold any coin without knowing how to optimize its profitability, coins with staking mechanisms help you generate additional profits while you hold them. So, what is Staking? What are the benefits of staking? Let's find out!


News | Bitcoin | Editor Choice

Bitcoin Rises to $65,000 Just Hours Before Halving

Bitcoin surged to $65,000, experiencing a nearly 8% fluctuation in just a few hours, amidst signs of easing tensions in Iran.