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MicroStrategy is the largest corporate holder. bitcoinI’m buying dip again.
On Monday, the software company and “Bitcoin Development Company” announced: First Quarter 2024 Financial ResultsWhile the cryptocurrency market has had a rough few weeks, I took the opportunity to mention that I have been buying more Bitcoin since the end of March.
MicroStrategy Purchased an additional 122 Bitcoins According to the report, a total of $7.8 million was spent from April 1 to April 26. This is smaller than many of the BTC the company has previously purchased over the past few years and pushes the size of the company’s holdings to a new all-time high while the ocean is declining compared to its overall holdings.
As of Friday, MicroStrategy held 214,400 bitcoins, or $13.5 billion at current asset prices. It also More than 1% of total supply Nearly 19.7 million BTC is currently in circulation, out of a total supply of 21 million.
Despite Bitcoin falling more than $10,000 from its recent all-time high of $73,737 set in March, the company remains very positive due to the gradual increase in investments. According to the press release, MicroStrategy’s cost basis for holding Bitcoin is currently $35,180 per coin, while the current price of BTC is $63,026, according to CoinGecko.
MicroStrategy founder and chairman Michael Saylor is one of the most outspoken Bitcoin bulls in the corporate world. Not only has he shifted the company’s focus to Bitcoin, but he frequently posts “laser-eyed” Bitcoin memes and gives interviews about the asset.
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