Between April 2023 and today, MicroStrategy has purchased more than 12,000 bitcoins for a total sum in excess of $347 million. The firm, formerly headed by Michael Saylor, continues to acquire bitcoins on a regular basis, regardless of market trends. However, despite its 152,000 BTC, MicroStrategy is not one of the three entities holding the most
MicroStrategy holds more than 150,000 BTC
For the past week, the indicators favourable to the Bitcoin (BTC) price have all been in the green. After the announcement of BlackRock’s application for a Bitcoin ETF and the launch of the 1st leveraged Bitcoin Futures ETF, Michael Saylor announced the acquisition of 12,333 additional Bitcoins by MicroStrategy
MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per bitcoin As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR https://t.co/joHo1gEnR0
– Michael Saylor⚡️ (@saylor) June 28, 2023
MicroStrategy acquired an additional 12,333 bitcoins at a cost of $347 million at an average price of $28,136 per BTC. As of June 27, 2023, MicroStrategy holds 152,333 bitcoins, acquired for $4.52 billion at an average price of $29,668 per BTC. “
An entrepreneur known for leading the company for more than 30 years, Michael Saylor continues to have a strong influence on MicroStrategy’s development through his role as Chairman of the Board.
To date, MicroStrategy is one of the entities with the most bitcoins in the world. With 152,333 BTC, it holds more than 0.7% of the total quantity in circulation. However, it still has some way to go to join the top 3 largest holders, including behemoth Grayscale and Bitcoin founder Satoshi Nakamoto.
Although the bear market has discouraged many investors, the US company is using this period to perpetuate its purchases of bitcoins for the next bull run. Since August 2022, MicroStrategy has purchased more than 22,000 BTC, worth $668 million at the time of writing.
The next bullrun led by institutional investors?
With new cryptocurrency-specific jurisdictions coming into force, such as MiCA and TFR in the European Union, major international groups are taking a greater interest in the cryptocurrency sector.
As a result, the once virulent rhetoric about Bitcoin has given way to growing curiosity, particularly for companies close to financial sectors such as real estate, banks and investment funds. Over the last few weeks:
- BlackRock, the world’s largest asset manager, has applied for a Bitcoin Spot ETF;
- Fidelity, Ark Invest, Invesco, Wisdom Tree … All these big names in US finance have applied for their own dedicated BTC ETF;
In France, CACEIS, the Crédit Agricole subsidiary with $4.5 trillion under management, recently obtained PSAN registration.
The arrival of institutional investors is seen by some in the Web3 community as a double-edged sword. Indeed, thanks to them, cryptocurrencies can be democratised to a wider audience, encouraging their long-term adoption.
However, it should be remembered that Bitcoin was originally created to combat the excesses of the entities that currently make up the financial sector, with state institutions dedicated to monetary control and commercial banks in the firing line.
