Between April 2023 and today, the company MicroStrategy has purchased more than 12,000 bitcoins for a total sum exceeding $347 million. The firm, formerly headed by Michael Saylor, continues to acquire bitcoins steadily regardless of the market trend. However, despite its 152,000 BTC, MicroStrategy is not among the three entities that hold the most.
Over 150,000 BTC for MicroStrategy
For a week, the favorable indicators for Bitcoin (BTC) are all green. Following the announcement of BlackRock’s application for a Bitcoin ETF and the launch of the 1st leveraged Bitcoin Futures ETF, Michael Saylor announces 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. »
Entrepreneur known to have been at the head of the company for more than 30 years, Michael Saylor continues to be a big influence on the development of MicroStrategy through his role as Chairman of the Board.
To date, MicroStrategy is among the entities with the most bitcoins in the world. With its 152,333 BTC, it holds more than 0.7% of the total amount in circulation. However, it still has some way to go to join the top 3 of the biggest holders, including the Grayscale juggernaut and the founder of Bitcoin, Satoshi Nakamoto.
Although the bear market has discouraged many investors, the American company take advantage of this period to continue buying bitcoins for the next bullish cycle. Since August 2022, MicroStrategy has acquired over 22,000 BTC, worth as of this writing $668 million.
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The next bullrun led by institutions?
With the entry into force of new jurisdictions specific to cryptocurrencies, like the MiCA and TFR texts within the European Union, the major international groups are more interested in the cryptocurrency sector.
Thus, the once virulent discourse about Bitcoin has given way to growing curiosity, especially for companies close to the financial sectors such as real estate, banks and investment funds. Over the last few weeks:
- BlackRock, the World’s Largest Asset Manager, Has Filed for a Bitcoin Spot ETF;
- Fidelity, Ark Invest, Invesco, Wisdom Tree… All these big names in American finance have asked to have their own ETF dedicated to BTC;
- in France, CACEIS, the Crédit Agricole subsidiary with $4.5 trillion under management, recently obtained PSAN registration.
Note that the arrival of institutions is perceived by part of the Web3 community like a double edged knife. Indeed, thanks to them, cryptocurrencies can be democratized to a wider audience, promoting their adoption over the long term.
However, let us recall that at its origins, Bitcoin was born to fight against the excesses of the entities currently making up the finance sectorwith state institutions dedicated to monetary control and commercial banks in the crosshairs.
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Published by Editions Larousse
Source: MicroStrategy
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Always enthusiastic about new technologies, I gradually moved closer to Web3-related activities during the year 2021. Over time, I wanted to add my stone to the building. It was then that I became an editor, with the aim of explaining cryptocurrency-related topics to as many people as possible.
Timothy Bourbotte
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