After four years of strategic Bitcoin accumulation, MicroStrategy, co-founded by Bitcoin visionary Michael Saylor, has solidified its status as a titan in the crypto landscape. The U.S. software giant now owns an astounding 244,800 Bitcoins—valued at a remarkable $14 billion—following its latest purchase just days ago.
This colossal Bitcoin stockpile accounts for nearly 1.2% of the entire circulating supply of 19.7 million tokens, according to Ecoinometrics. To put that into perspective, MicroStrategy holds more Bitcoin than prominent spot ETFs, including Grayscale’s GBTC and Fidelity’s FBTC.
MicroStrategy began its Bitcoin journey in August 2020, purchasing the cryptocurrency as a reserve asset when it was priced at just $12,000. Since then, the company has aggressively increased its holdings, becoming the largest publicly traded corporate owner of Bitcoin, according to BitcoinTreasuries.
Based in Tysons Corner, Virginia, MicroStrategy frequently issues corporate debt to fuel its Bitcoin acquisitions. Saylor, a vocal Bitcoin evangelist, is urging other companies to adopt this strategy, advocating for the inclusion of Bitcoin on corporate balance sheets.
Saylor’s influence is extending beyond U.S. borders. In May, Japanese investment advisor Metaplanet embraced his strategy, using Bitcoin as a hedge against yen volatility. By September 10, Metaplanet had accumulated 400 BTC, valued at around $22.7 million at the time.
Currently, Bitcoin’s price has dipped to $57,685, as the market awaits a Federal Reserve rate cut decision. Despite a 4% drop over the past 24 hours, Saylor remains unfazed, maintaining his bullish long-term outlook. He’s predicted that Bitcoin could reach an eye-popping $13 million per coin over the next two decades.
With bold strategies and even bolder bets, MicroStrategy continues to spearhead corporate Bitcoin accumulation, cementing its leadership role in the evolving world of digital assets.
source:https://zycrypto.com/michael-saylors-microstrategy-now-holds-nearly-1-2-of-total-bitcoin-circulating-supply-after-latest-buy/ Show Less
