MicroStrategy Holds 1% of Total Bitcoin Supply, More Than Any Country

With over $14 billion worth of Bitcoin in its holdings, MicroStrategy now possesses more cryptocurrency than any other country in the world.

MicroStrategy Holds 1% of Total Bitcoin Supply, More Than Any Country. Image: CoinChapter

As reported by Coin68, MicroStrategy has acquired 25,250 Bitcoin in the first four months of 2024, increasing its holdings to 214,400 BTC. Notably, this accumulation represents over 1% of the total existing Bitcoin supply, with nearly 19.7 million BTC out of the 21 million currently in circulation.

Additionally, their long-term investment strategy has propelled MicroStrategy to become the largest Bitcoin-holding company globally, surpassing the second-ranked Marathon Digital Holdings by more than 10 times.

Top public companies by Bitcoin holdings. Source: Bitcoin Treasuries

MicroStrategy's latest Dollar Cost Averaging (DCA) transactions have also surpassed those of the United States, which currently holds 207,189 Bitcoin valued at over $13.5 billion.

Countries and companies with the most Bitcoin holdings worldwide. Source: Independent

Both Chairman Michael Saylor and CEO Phong Le confirmed:

"We now hold 214,400 Bitcoin at an average purchase price of $35,180 per coin."

MicroStrategy has been earnestly investing in Bitcoin since August 2020, initially committing $250 million to their first investment. Despite enduring prolonged losses, they have continuously added Bitcoin to their reserve assets, resulting in the colossal figure today. At the current Bitcoin price of approximately $63,400, MicroStrategy has thus far profited $6 billion from their Bitcoin gamble.

MicroStrategy's Bitcoin purchase history. Source: Saylor Tracker (05/07/2024)

Nevertheless, MicroStrategy remains steadfast in its "HODL Bitcoin" stance despite adversities. Above all, the tech giant only issues stock and bonds to raise funds for purchasing more Bitcoin.

Yesterday, Bitcoin's price closely approached the $66,000 resistance level amid macroeconomic data consolidation, inflows into spot ETFs, and the halving effect.

1D chart of BTC/USDT pair on Binance exchange at 11:30 AM on 05/07/2024

Firstly, the Fed decided to maintain interest rates, continuing its "wait-and-see" approach until inflation targets return to 2%. The Fed Chairman also ruled out a rate hike in the next policy meeting.

Secondly, Bitcoin ETF funds have begun to attract inflows once again. In the past two days, inflows into this category have reached a record-breaking half a billion US dollars.

Thirdly, the quadrennial halving event significantly reduced Bitcoin's supply, coupled with increasing demand, driving Bitcoin to a new peak of $73,000 back in March.

However, the flagship cryptocurrency is now reversing its course following news that Robinhood received a warning from the SEC last night. The recent appointment of a new CFTC chairman also suggests increased regulatory crackdowns on crypto in the coming two years.