Michael Saylor, CEO of MicroStrategy, announced via a tweet on September 25, 2023, that the company had invested in an additional 5,445 BTC, totaling approximately $147.3 million, with an average purchase price of $27,053 per Bitcoin. With this recent acquisition, the company’s Bitcoin holdings stand at 158,245 BTC, acquired for roughly $4.68 billion at an average price of $29,582 per Bitcoin.
This move highlights the continued commitment and belief in Bitcoin by MicroStrategy and its CEO, who have long been proponents of Bitcoin as a store of value and a hedge against inflation. Their aggressive accumulation of Bitcoin positions them as one of the leading institutional holders of the cryptocurrency.
MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv
— Michael Saylor⚡️ (@saylor) September 25, 2023
It has just happened after on 26th of June MicroStrategy bought 12,333 Bitcoins as we mentioned before.
Comparative Corporate Holdings: Coinbase
While discussing substantial corporate Bitcoin holdings, it’s worth mentioning that cryptocurrency exchange Coinbase reportedly holds approximately 1 million Bitcoins, a valuation of around $25 billion. This substantial figure represents nearly 5% of the total circulating Bitcoin supply worldwide. However, it is crucial to differentiate the Bitcoins held by Coinbase for its users and its corporate-owned Bitcoin holdings, estimated to be around 10,000 BTC or approximately $200 million.
Institutional Trust in Bitcoin’s Future
MicroStrategy’s consistent and strategic acquisition of Bitcoin underscores the growing institutional interest and belief in the long-term value of cryptocurrencies. These sizable investments by leading companies, like MicroStrategy and Coinbase, may influence other corporate entities and individuals to consider allocating a portion of their assets to cryptocurrencies.