MicroStrategy’s Makes Bold Move, Purchases Nearly AU $900 Million in Bitcoin

MicroStrategy has long been an advocate of Bitcoin, being the corporate company with the largest BTC holdings for several years now. The software development business added to their coffers last week, purchasing approximately 16,130 BTC at a price of USD $36,785 (AUD $55,567) per coin. This marks a 10% increase in their overall holdings, currently standing at 174,530 BTC with an average buy price of a tick over USD $30k (AUD $45,698).

Interestingly, the company hasn’t waited for a potential dip in light of Bitcoin’s stellar performance over the past few months. While some investors have warned that a moderate correction is on its way before the halving event set for next year, MicroStrategy has steamed ahead to continue accumulating BTC.

This is consistent with their past investment principles, preferring to steadily grow their portfolio rather than attempting to time the market.

MS Extends Lead Over Other Companies Holding Bitcoin

The company, founded by Michael Saylor in 1989, has only been buying Bitcoin since 2020, but quickly rose to have the largest BTC portfolio of any other business. In fact, MicroStrategy’s Bitcoin holdings are so immense that several investors recommend it as a way to gain exposure to the price of BTC without needing custody of the coins yourself.

The business’ current ownership of about 174k BTC dwarfs all comers and represents nearly 1% of Bitcoin’s total supply. The next largest holding of BTC among public companies is Marathon Digital, which owns approximately 13,396. This is less than 10% of MicroStrategy’s portfolio.

Rounding out the top ten public Bitcoin holders are: