Michael Saylor announced on Monday, Strategy made another massive purchase of Bitcoin. The multi-billion dollar purchase of Bitcoin was not a surprise to the market, considering the company was already raising more money to buy BTC before that day. What’s fascinating, however, is how much BTC the public company currently holds and what that means compared to other peers with gigantic market shares.
Strategy’s BTC holdings have already exceeded 800,000 BTC
Thanks to the company’s latest purchase of 34,164 BTC, its Bitcoin holdings have crossed the 800,000 BTC mark for the first time. According to the announcement, the latest BTC purchase returned the company as much as $2.54 billion at an average price of $74,395 per Bitcoin.
It brought total shares of the company to 815,061 BTC, and the total purchase history amounted to $61.56 billion spent so far. This purchase also lowered the company’s average BTC purchase price to $75,527, reducing its overall entry point.
However, considering that the holdings are currently worth over 815,000 BTC, this means that Strategy has actually surpassed BlackRock when it comes to BTC holdings. Previously, BlackRock dominated market as Spot Bitcoin ETFs quickly gained popularity and BlackRock shares grew very quickly.
However, as of this writing, BlackRock IBIT’s total BTC holdings are below 800,000, or 798,062, according to data data with Bitbo. It’s a compact difference, but it shows how Strategy’s BTC purchases continue to grow, on par with BlackRock, a company with over $12 trillion in assets under management.
Will Michael Saylor stop buying Bitcoin?
In the past, Michael Saylor has said that Strategy’s decision to buy Bitcoin as a treasury asset was not a short-term plan, which has been proven over the years. The company began purchasing Bitcoin in 2020, and five years later it is still purchasing BTC and remains the company with the largest BTC holdings in the world.
In an interview with CNBC in February, Saylor reiterated his stance on Bitcoin, explaining that the company has no plans to sell its Bitcoin holdings anytime soon. For now, the company has not yet announced its exit plan, and if there is one, it has not yet been made public. So for now we are focusing on the company buys BTC instead of a possible sale.
Featured image from Dall.E, chart from TradingView.com
