MicroStrategy Surpasses BlackRock: Acquires $822 Million Worth of Bitcoin, Boosting Holdings to 205,000 Amidst Record-Setting Prices

In response to Bitcoin’s escalating value, MicroStrategy allocates approximately $822 million for the acquisition of an additional 12,000 bitcoins.

These purchases occur between Feb. 26 and March 10, with an average cost of $68,477 per bitcoin, reflecting MicroStrategy’s continued commitment to expanding its cryptocurrency holdings.

On March 12, 2023, Blackrock purchased 11,871 bitcoins via $IBIT, representing the second-highest daily trading volume in recorded history.

The latest acquisitions bring MicroStrategy’s total bitcoin holdings to an impressive 205,000, momentarily placing it ahead of BlackRock’s iShares Bitcoin ETF, which possessed 195,985 bitcoins as of the previous Friday.

BlackRock and Fidelity now hold 331,560 BTC, with a total value exceeding $23.4 billion for their spot Bitcoin ETFs.

MicroStrategy’s strategic accumulation of bitcoins dates back to 2020, and the company has maintained an average purchase price of around $33,706, showcasing its early and consistent involvement in the cryptocurrency market.

In contrast, BlackRock’s iShares Bitcoin ETF was only launched in January, highlighting MicroStrategy’s longer-term engagement and proactive approach in building its bitcoin portfolio.

The market responds positively to MicroStrategy’s moves, with the company’s stock rising by 4.7% to $1,492, underscoring investor confidence in its cryptocurrency strategy.

Simultaneously, Bitcoin experiences a 4.5% increase, reaching a value of $72,131, further emphasizing the ongoing bullish trend in the cryptocurrency market.

Update:

MicroStrategy, under Michael Saylor’s leadership, has bought 9,245 bitcoins for about $623.0 million, using funds from convertible notes and excess cash, at an average price of roughly $67,382 per bitcoin. As of March 18, 2024, MicroStrategy holds a total of 214,246 bitcoins, acquired for approximately $7.53 billion, averaging $35,160 per bitcoin.

Update:

Fidelity currently holds 150,000 Bitcoin, which amounts to over $10 billion in value.

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