Business intelligence firm MicroStrategy has seen its Bitcoin (BTC) portfolio exceed $20 billion. With BTC’s recent price rally, MicroStrategy’s 252,200 BTC is currently worth $20.5 billion, marking a gain of over 104% on the company’s Bitcoin investment strategy.
The world’s largest cryptocurrency by market capital has made headlines in the past week, hitting a new all-time high (ATH) of over $82,000. However, the asset has slightly dropped to over $81,900. The pump has also benefited other major BTC holders.
According to data from BitcoinTreasuries, MicroStrategy has made roughly 42 purchases, with an average acquisition cost of $39,292 per BTC.
MicroStrategy as Largest Corporate BTC Holder
MicroStrategy started buying and holding bitcoin in August 2020 as revenue from its software business eased. Today, it is now the largest corporate BTC holder, followed by Bitcoin miners Marathon Digital and Riot Platforms, which hold $2.1 billion and $840 million worth of bitcoin, respectively.
Since it commenced its acquisition spree, the business intelligence firm has purchased bitcoin worth millions of dollars, enlarging its company’s portfolio.
On September 20, 2024, MicroStrategy acquired BTC worth $458.2 million after it raised $1.01 billion from convertible note sales. The company also bought an additional 18,300 BTC valued at $1.11 billion.
Big Firms Buying BTC
Like MicroStrategy, other big firms have begun accumulating the leading crypto asset globally. The Japanese investment firm Metaplanet, famously known as “Asia’s MicroStrategy,” has expanded its Bitcoin holdings. The company acquired 38.4 BTC, valued at around $2.1 million, cementing its position as a major player in the crypto market.
The company also purchased BTC worth $3.4 million and made an additional acquisition of BTC worth $1.2 million, which shows its commitment to building its Bitcoin reserves.
Popular United States bitcoin mining firm Marathon Digital is not left out. Between August 12 and August 14, the company purchased 4144 BTC worth approximately $249 million at an average price of $59,500 per coin.
With its purchases, the miner owns approximately 25,000 BTC, valued at about $1.5 billion, almost 0.12% of the total Bitcoin supply.
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