[MicroStrategy currently holds more Bitcoins than the United States and China]
Since it began actively accumulating Bitcoin in August 2020, MicroStrategy has become one of the largest corporate Bitcoin holders in the world. This strategy was originally designed to protect against the risk of a devaluation of the U.S. dollar as inflation rises due to the COVID-19 pandemic. Currently, MicroStrategy is best known for its ongoing Bitcoin buying behavior.
Meanwhile, China and the United States have increased their Bitcoin reserves primarily by confiscating assets from illegal activities. According to The Crypto Basic, MicroStrategy recently purchased another 9,245 Bitcoins worth a total of $6.23 million, bringing its holdings to 214,246.
Ki Young Ju, founder and CEO of CryptoQuant, noted that this brings MicroStrategy’s Bitcoin holdings to 210,000, surpassing the United States. The company also surpassed China, which controls a total of 194,000 Bitcoins. Despite the significant progress, MicroStrategy founder and chairman Michael Saylor stressed that the company will continue to buy Bitcoin.
Currently, the only entity to surpass MicroStrategy is investment giant BlackRock. It is worth noting that BlackRock has actively accumulated Bitcoin through its spot ETF products, with its total holdings as of March 19 being 238,501.10634 coins.
MicroStrategy purchased Bitcoin at an average price of $35,160 per Bitcoin, for a total investment of approximately $7.53 billion. Despite facing price fluctuations, the current market capitalization of these Bitcoins has reached approximately $13,724,097,424.4, resulting in approximately $6.19 billion in unrealized profits for the company.
As the next Bitcoin halving approaches, the performance of BlackRock and MicroStrategy in terms of Bitcoin accumulation deserves continued attention.
