- MicroStrategy’s bitcoin reserves have reached 214,246 BTC.
- This makes the company the owner of more than 1% of the total supply of the first cryptocurrency.
- The value of bitcoin in MicroStrategy’s portfolio exceeds $14.3 billion.
Technology giant MicroStrategy has become the owner of more than 1% of the entire bitcoin supply. The reserves of the company’s first cryptocurrency have reached 212,246 BTC.
MicroStrategy has made several large bitcoin acquisitions in the past 30 days. Between February 26 and March 10, 2024, the company deposited 12,000 BTC into its balance sheet. This transaction cost it $821.7 million and the average value of one bitcoin was $68,477.
On March 18, 2024, it was reported that MicroStrategy purchased another 9,245 BTC. This time, the firm spent $623 million to acquire the first cryptocurrency. The average purchase price amounted to $67,382.
Thus, the company’s bitcoin reserves reached 212,246 BTC, which at the time of writing exceeds $14.3 billion. Given the limited supply of the first cryptocurrency of 21 million BTC, MicroStrategy has become the owner of more than 1% of the total volume of the asset thanks to the latest purchases.
It’s worth noting that 19.7 million BTC of the total bitcoin supply has been mined so far, according to Buy Bitcoin Worldwide. In percentage terms, the figure is 93.6%. Bitcoin miners are expected to mine all of the first cryptocurrency by 2140.
MicroStrategy founder Michael Saylor has repeatedly emphasized that the company continues to plan to invest in the digital asset. According to the entrepreneur, the first cryptocurrency has entered the “gold rush” stage. It is linked to the growth of institutional adoption and will last until 2034, according to Saylor.
The businessman also claims that the first cryptocurrency will “eat” gold in the near future. According to him, spot bitcoin-ETFs will take away from investment products based on the precious metal part of the funds and allow the digital asset to assert its leadership in financial markets.
Recall, we wrote that Michael Saylor urged billionaire Bill Ackman to buy bitcoin.
