MicroStrategy recently reported acquiring an additional 5445 Bitcoins. The software company revealed the transaction on Monday while filing with the SEC.
The transaction amounted to a whopping $147.3 million. MicroStrategy now holds 158,245 Bitcoins, which accounts for 0.754% of the available BTC supply. The holding is roughly worth $4.1 billion, making MicroStrategy the biggest corporate BTC holder.
Even with the massive holding, the company still has $500 million in unrealized losses due to BTC’s current price. The biggest crypto is currently trading near $26k, while MicroStrategy bought it for an average price of $29,582.
Michael Saylor, the co-founder of MicroStrategy, revealed this information in an official tweet. The co-founder stated how the company bought its BTC holding for $4.68 billion, while it is currently priced at $4.1 billion.
MicroStrategy is miles ahead of every corporate competitor in terms of BTC holdings. Marathon Digital Holdings holds the next highest BTC stack at a meager $12,964. MicroStrategy currently holds more BTC than the next five biggest corporate holders on the list.
Since the company entered the domain in 2020, Michael Saylor has made BTC a core part of MicroStrategy’s operations. While many critics claimed the strategy would dig a hole for MicroStrategy, the company has only stacked more BTCs in the past few years.
The co-founder and chairman have openly stated that more financial institutions, countries, and banks would eventually accept BTC as an asset. Saylor even stepped down as MicroStrategy’s CEO to focus on promoting Bitcoin adoption across the world.
The latest development has also triggered similar responses from critics. However, the company seems adamant about keeping up with its strategy.
Source: https://www.cryptonewsz.com/microstrategy-gets-5445-bitcoins-reaching-158245/