MicroStrategy has solidified its position as a key player in the cryptocurrency market by amassing approximately 2% of Bitcoin’s maximum supply of 21 million.
Taking into account estimates from River Financial Inc., which suggests 1.6 million BTC are lost and 0.97 million BTC ascribed to Satoshi are permanently locked (What Happens to Lost Bitcoin?), MicroStrategy’s holdings account for 2.3% of all Bitcoin that will ever be in circulation.
Source: river.com
Buying History
Since August 2020, the company has accumulated 423'650 BTC, investing approximately $25,6 billion at an average price of $60,4k per Bitcoin.
Market Value of Holdings
As of today, with Bitcoin trading at $98'759, the market value of MicroStrategy’s holdings has surged to $42 billion. This reflects an unrealized gain of $16 billion, with the company’s total Bitcoin position being 63% in profit.
Acquisition Breakdown
MicroStrategy’s CEO, Michael Saylor, has aggressively pursued Bitcoin acquisitions, with a significant portion of purchases occurring in 2024:
| Year | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Funds Deployed (%) | 10,3% | 1,1% | 7,5% | 76,8% |
| BTC Acquired (%) | 12,7% | 1,9% | 13,4% | 55,4% |
In 2024 alone, MicroStrategy deployed $19,7 billion on Bitcoin. This was made possible by the premium at which MSTR shares trade above the market value of the BTC owned.
Sources:
Michael Saylor on X.com
Microstrategy financials:
MicroStrategy investor relations page for 8-K, 10-K and 10-Q reports.MicroStrategy stock market data: finance.yahoo.com
MSTR shares outstanding: ycharts.com
BTC price: coingecko.com
Notes:
- Funds deployed: funds allocated during a certain period in comparison with overall investments in a particular asset
- Nr. BTC acquired: amount Bitcoin acquired during a certain period in comparison with the total amount on the books
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