MicroStrategy Holds 0.75% of Bitcoin’s Supply
MicroStrategy, a software developer, has been investing in Bitcoin since the summer of 2020. According to the company’s founder, Michael Saylor, BTC is now a global financial instrument and its value is expected to continue increasing over time.
On the previous day, Saylor announced that MicroStrategy had added another $5.3 million in cryptocurrency to its investments.
In October alone, the company purchased 155 Bitcoins, bringing its total holdings to 158,400 BTC. This accounts for approximately 0.75% of the total Bitcoin circulation.
This week, reports showed that MicroStrategy had bought 6,067 BTC for $167 million in the third quarter of 2023.
The company now holds a total of $4.69 billion worth of the digital currency. With the current market value of Bitcoin, this amount has increased to approximately $5.6 billion.
In order to continue investing in BTC, MicroStrategy plans to sell shares worth up to $750 million in the near future.
