MicroStrategy has acquired another 7,420 BTC for approximately $458.2 million. The information was provided on X by Michael Saylor, the company’s founder.
MicroStrategy buys BTC
MicroStrategy is adding more bitcoins to its balance sheet. It’s about 7,420 BTC, to be exact, for which the company paid $458.2 million (the average purchase price of one coin is about $61,750).
This is important information. Currently, the company is already in the black on its cryptocurrency investment – at the level of 5.1% QTD (quarter-to-date, time from the beginning of the quarter to the current day inclusive) and 17.8% annually.
As of 19/09/2024, we held 252,220 BTC acquired for approximately USD 9.9 billion
Saylor added.
The company has more BTC than two countries that hold cryptocurrencies
It is worth noting that MicroStrategy currently holds more bitcoins than countries that have opted for a similar investment strategy as this famous US company. We know this, for example, thanks to the Arkham Intelligence platform, which has indicated in its new report the Bitcoin addresses that belong to Druk Holdings (DHI), the investment arm of Bhutan.
How much bitcoin do DHI wallets contain? Over 13,000 BTC. The country also has ethers, binance coins, and polygon.
13,000 BTC is still a lot less than the 250,000+ that MicroStrategy has. El Salvador is even worse off, with “only” 5,875 BTC in its holdings.
It is worth adding that these two countries and companies – such as Saylor’s company – may turn out to be big winners. It cannot be ruled out that other institutions will start investing in cryptocurrencies. The White House (in practice, the Fed) may want to do so. This is suggested by Donald Trump, who is currently fighting for the presidency. Senator Cynthia Lummis has prepared a relevant act on buying BTC. So far, the document has not been voted on in Congress, so the president has not had a chance to sign it,
