In a groundbreaking development, MicroStrategy, led by Michael Saylor, has surpassed both the United States and China in terms of Bitcoin holdings. MicroStrategy has earned its reputation as one of the largest corporate holders of Bitcoin through consistent accumulation since August 2020. What initially started as a strategic move to protect against the devaluation of the US Dollar due to inflation and the impact of COVID-19 has now garnered global recognition.
While MicroStrategy continues to augment its Bitcoin holdings through a well-thought-out accumulation strategy, China and the US primarily increase their balances through confiscation in cases of illegal activities. Recently, MicroStrategy acquired an additional 9,245 BTC, valued at $623 million, bringing its total holdings to an impressive 214,246 BTC. According to Ki Young Ju, the founder and CEO of CryptoQuant, this figure surpasses the United States’ Bitcoin holdings of 210,000 BTC and China’s holdings of 194,000 BTC. Despite these achievements, Michael Saylor, the company’s founder and chairman, has emphasized that there are no plans to halt their Bitcoin purchases.
MicroStrategy’s Bitcoin holdings were acquired at an average price of $35,160 per BTC, resulting in a total investment of around $7.53 billion. Although the price of Bitcoin has experienced a decline, the current value of MicroStrategy’s Bitcoin units stands at $13.72 billion, translating to an unrealized profit of $6.19 billion. The only entity outpacing MicroStrategy in Bitcoin accumulation is BlackRock Inc., a prominent American investment banking giant. BlackRock has been accumulating Bitcoin through its spot ETF products, which has propelled their total holdings to 238,501.10634 BTC as of March 19.
It is evident that both BlackRock and MicroStrategy are key players to watch in the Bitcoin accumulation arena, especially in anticipation of the upcoming Bitcoin Halving event. However, it is important to note that this article is purely informational and should not be regarded as financial advice. The views expressed here are solely the author’s opinions and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic cannot be held responsible for any financial losses incurred.
