MicroStrategy owns nearly 1% of Bitcoin’s circulating supply after new purchase

exchange68September 12, 2024

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Quick Take

MicroStrategy’s aggressive expansion into the Bitcoin market takes another leap as the firm adds 16,130 BTC to its coffers at $593.3 million, procured at an average price of $36,785 per Bitcoin.

This significant acquisition stresses MicroStrategy’s unwavering commitment to the digital asset, bringing the company’s total holdings to 174,530 BTC, costing approximately $5.28 billion.

The acquisition strategy, with an overall average investment price of $30,252 per unit, has positioned the firm favorably in the face of the current Bitcoin price of roughly $37,700. The calculated result is a profit margin of approximately $1.3 billion, a substantial profitability indicator.

MicroStrategy owns approximately 0.90% of the total circulating supply of Bitcoin, which is 19.5 million BTC.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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