The business intelligence firm MicroStrategy is now holding 140,000 BTC, consolidating its dominance as the largest company holding BTC in the world. The company announced on Twitter that they have bought 1,045 BTC more acquired for $29.3 million at an average price of $28,016 per coin. In this way, the company has strengthened its position of 140K BTC acquired for close to $4.17 billion at an average price of $29,803 per Bitcoin.
MicroStrategy Purchases 1,045 BTC and Hits 140K BTC
On Twitter, MicroStrategy announced that they have expanded their BTC holdings and reached 140K BTC as of today. They have bought an additional 1,045 BTC at a price of $28,016 per Bitcoin. The tweet includes a link to a filing made with the United States Securities and Exchange Commission (SEC) in which they inform that they have purchased this amount of BTC between March 24 and April 4.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
— Michael Saylor⚡️ (@saylor) April 5, 2023
This is just one of the latest decisions of the company to secure its position as a leading company in the cryptocurrency market by purchasing more BTC. Thanks to this last purchase, the company is now the holder of 0,66% of the total Bitcoin supply of Bitcoin (21 million BTC). This shows that MicroStrategy wants to remain a leader in the market and adopt Bitcoin as the new monetary standard for the future.
Jameson Lopp, Co-founder & CTO of Casa wrote on Twitter about this decision:
“That’s a nice, round number. I guess you can stop now and leave some for the rest of us?”
That's a nice, round number. I guess you can stop now and leave some for the rest of us?
— Jameson Lopp (@lopp) April 5, 2023
Similar comments were made by other Twitter handles such as Crypto Rand:
“Sir, with all due respect, please save some for us.”
Sir, with all due respect, please save some for us 😉
— Crypto Rand (@crypto_rand) April 5, 2023
There are multiple companies that decided to purchase Bitcoin and hold the largest cryptocurrency on their balance sheets. Marathon Digital Holdings, for example, acquired 12,232 BTC at the time of writing, according to Bitcoin Treasuries. This is a large amount, but far from MicroStrategy, which is the largest publicly-traded company holding BTC.
Tesla is also holding 9,720 BTC, but they decided not to continue buying as regularly as MicroStrategy.
Entities Holding Bitcoin and Their Impact on the Market
There are many other entities holding Bitcoin, which is something that has a large impact on the market. For example, Grayscale Bitcoin Trust holds 635,236 BTC, close to 3.025% of the total Bitcoin supply. CoinShares Bitcoin Trust is also holding over 37,600 BTC or 0.179% of the total Bitcoin supply.
The trend of companies investing in Bitcoin and holding the cryptocurrency on their balance sheets is growing. While some companies have been hesitant to join the movement, others like MicroStrategy have been bullish on Bitcoin and consistently expanding their holdings.
This move by companies can have a significant impact on the market and further validate Bitcoin’s potential as a viable asset for investment.
Entities like MicroStrategy holding such a large amount of Bitcoin could potentially create a scarcity effect that drives up the price of Bitcoin. As more companies start to follow suit and purchase Bitcoin, the market could see a surge in demand.
Let’s also not forget that every four years, Bitcoin’s new issuance gets halved. In 2024, there will be a new halving event that will reduce the new issuance of BTC from 6.25 BTC per block to 3.125 BTC per block.
This trend is one that investors and traders are keeping a close eye on as it could have a significant impact on the future of Bitcoin and its potential as a store of value.
It remains to be seen how this trend will evolve, but for now, it seems that companies like MicroStrategy are leading the charge and solidifying their position as major players in the cryptocurrency market.
With Bitcoin’s value soaring in recent months, it’s clear that there is growing interest in this digital asset, and companies are not shying away from investing in it. The next few years will be an exciting time for Bitcoin as it continues to gain mainstream acceptance and attract more institutional investors.
