- In the choppy waters of the crypto market, Michael Saylor’s MicroStrategy company has made a significant impact by adding more Bitcoin to its holdings.
- MicroStrategy’s recent purchase of Bitcoin has elevated the company to a dominant position in the cryptocurrency arena, surpassing even the holdings of major governments.
- The substantial accumulation of Bitcoin by MicroStrategy also underscores the increasing interest of Wall Street players in cryptocurrency as a store of value and investment tool.
Michael Saylor’s MicroStrategy company has surpassed both China and the U.S. in Bitcoin holdings by acquiring more Bitcoin!
MicroStrategy Persistent in Increasing Bitcoin Holdings
In the volatile waters of the crypto market, Michael Saylor’s MicroStrategy company has made a significant impact by adding more Bitcoin to its holdings. Specifically, with its latest purchase, MicroStrategy now holds more Bitcoin than powerful governments like the U.S. and China.
This bold move also highlights Saylor’s unwavering confidence in Bitcoin despite recent price drops. Additionally, MicroStrategy’s current holdings account for approximately 1% of the total Bitcoin supply.
MicroStrategy’s recent purchase of Bitcoin has elevated the company to a dominant position in the cryptocurrency arena, surpassing even the holdings of major governments. Particularly, CEO Michael Saylor’s strategic maneuvers have garnered widespread attention and sent a strong signal of approval for Bitcoin’s potential despite market volatility.
Meanwhile, CryptoQuant CEO Ki Young Ju praised MicroStrategy’s success, noting that the company now holds more Bitcoin than the combined total of the U.S. and China governments. This milestone sparked intense debates within the crypto community and underscored MicroStrategy’s bullish outlook on digital assets.
Ki Young Ju revealed that MicroStrategy currently holds approximately 214,000 BTC. This staggering figure surpasses the amounts held by states, such as China with around 194,000 BTC and the U.S. government with approximately 210,000 BTC.
Notably, MicroStrategy’s substantial accumulation of Bitcoin also underscores the increasing interest of Wall Street players in cryptocurrency as a store of value and investment tool.
Purchase Amid Bitcoin ETF Outflows
MicroStrategy’s purchasing strategy includes a combination of private offerings and cash reserves, as stated in recent press releases. By completing a private offering of convertible bonds, the company raised over $600 million in revenue. With these funds, MicroStrategy purchased approximately 9,245 bitcoins, increasing its total holdings to over 214,000 bitcoins.
However, despite MicroStrategy’s bullish moves, the MSTR price closed at $1,417.50 on March 19, marking a 6% decrease from its previous close. This decline occurred in parallel with many blockchain stocks retreating during the Bitcoin downturn.
Meanwhile, the recent downturn in the cryptocurrency market has been associated by analysts with consecutive outflows from the U.S. Spot Bitcoin ETF. The U.S. Spot Bitcoin ETF experienced significant outflows for the second consecutive day, with a $326.2 million outflow on March 19, following a $154.4 million outflow the day before.
