Michael Saylor announced on Monday that Strategy has made another major Bitcoin purchase. The multi-billion dollar Bitcoin purchase was not a surprise to the market, given that the company had already raised further funds for Bitcoin purchases by this date. But what’s interesting is how much BTC the public company currently holds, and what that means compared to other comparable companies with large holdings in the market.
Strategy’s BTC holdings exceed 800,000 BTC
With its latest purchase of 34,164 BTC, the company confirmed that its Bitcoin holdings have crossed the 800,000 BTC mark for the first time. According to the announcement, this latest BTC purchase gave the company back a whopping $2.54 billion, with an average price per Bitcoin of $74,395.
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This brings the company’s total holdings to 815,061 BTC, and the total purchase history spent to date to $61.56 billion. This purchase also lowered the average purchase price of the company’s BTC holdings to $75,527, reducing the total entry point.
However, the holdings are now over 815,000 BTC, meaning that Strategy has actually surpassed BlackRock in terms of BTC holdings. Previously, BlackRock dominated the market as the popularity of Spot Bitcoin ETFs grew rapidly and BlackRock’s holdings increased very quickly.
However, according to Bitbo data, as of this writing, BlackRock IBIT’s total BTC holdings remain at 798,062, less than 800,000. While this is a small difference, it shows how Strategy’s BTC purchases continue to grow, putting it on par with BlackRock, a company with more than $12 trillion in assets.
Will Michael Saylor stop buying Bitcoin?
Michael Saylor has said in the past that Strategy’s move to purchase Bitcoin as a treasury asset was not a short-term plan, and this has been proven over the years. The company started buying Bitcoin in 2020, and five years later it is still buying BTC and remains the world’s largest BTC holder.
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In an interview with CNBC in February, Saylor reiterated his position on Bitcoin, explaining that the company has no intention of selling its Bitcoin holdings anytime soon. So far, the company has not announced any exit plans, and if there are any plans, they have not yet. Therefore, for now, the focus is on the company’s BTC buys rather than potential sells.
Featured image from Dall.E, chart from TradingView.com
