MicroStrategy Now Owns 1% of All Bitcoin in the World After Latest Buys

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MicroStrategy owns 1% of all bitcoin that has been mined to date.
The company’s latest purchase takes its holdings to 214,246 out of the 19.7 million that have been mined.
Almost a quarter of MicroStrategy’s bitcoin purchases have been made in 2024.

In August 2020, MicroStrategy made its first bitcoin purchase, buying 21,454 bitcoin for $250 million.

Fast forward three and a half years and the company now owns over 1% of all the bitcoin that’s been mined.

MicroStrategy has steadily bought more of the digital token ever since its first purchase. The company bought another 9,245 tokens for $623 million between March 11 and March 18, according to an SEC filing.

That takes its total stash to 214,246 tokens, which is just over 1% of the roughly 19.7 million tokens issued so far.

MicroStrategy’s crypto craze has been driven by co-founder Michael Saylor, a long-time bitcoin bull who has recently said the crypto will “eat gold,” the asset that it’s most often compared to.

His bets seem to have paid off as bitcoin has taken off on a blockbuster rally in the last 12 months. MicroStrategy’s stock is up around 380% in the past year, while bitcoin has jumped more than 150% in that time.

Almost a quarter of MicroStrategy’s bitcoin purchases have been made in 2024 alone, Bloomberg noted.

According to the original bitcoin white paper by Satoshi Nakamoto, the total amount of bitcoin that’s possible to be mined is capped at 21 million. That ceiling is expected to be hit in 2140 as every four years, the amount of bitcoin that miners are rewarded with for adding new tokens to the blockchain halves.

The next halving event is coming up in April, which will slash the reward to 3.125 bitcoin.

This year’s halving is partly the reason for the latest rally, sources say. The last three events have all been followed by fresh all-time highs in the next 12 months.

The average price of bitcoin in MicroStrategy’s latest acquisition was $67,382, the SEC filing showed. The average purchase price of its total holdings, which are worth $13.46 billion, is $35,160.

This article was originally published by a markets.businessinsider.com

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