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On Monday, Feb. 26, 2024, Microstrategy’s Executive Chairman, Michael Saylor, shared that his company has expanded its bitcoin holdings by 3,000, elevating its total to 193,000 bitcoins valued at $9.88 billion at the current market rates.
**Editor’s Note: Two hours following the publishing of this article bitcoin’s price is above $53,400 and Microstrategy’s cache is now worth $10.30 billion as of Feb. 26, 2024, at 1 p.m. Eastern Time.
Microstrategy (Nasdaq: MSTR) now possesses 193,000 BTC, valued at $9.88 billion, following its recent purchase of 3,000 bitcoins from Feb. 15 to Feb. 25, 2024. Data indicates that, based on the average price at which Microstrategy secured this batch of BTC, the entire investment has appreciated 62% in value relative to the U.S. dollar thus far. On Monday, Michael Saylor, the firm’s executive chairman, disclosed this latest acquisition via the social media platform X.
“Microstrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per bitcoin,” Saylor said. “As of 2/25/24, Microstrategy now hodls 193,000 BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin.”
The update comes after Saylor shared with Bloomberg his anticipation that capital will continue to flow into bitcoin, with Microstrategy having no intentions of selling its substantial bitcoin holdings. Microstrategy stands as the leading publicly traded entity, aside from Grayscale’s Bitcoin Trust (GBTC), when it comes to the quantity of BTC it holds. Notably, Microstrategy’s cache surpasses Marathon’s collection of 15,741 BTC and Tesla’s stash of 9,720 BTC.
The only entity with holdings nearly matching Microstrategy’s scale is Blackrock’s Bitcoin Trust (IBIT), boasting 130,231.29 BTC as of Monday, Feb. 26. Currently, Fidelity’s FBTC fund is in possession of roughly 92,672.95 BTC. Alongside Blackrock, Fidelity’s financial records represent the only two entities (GBTC excluded) that rival Microstrategy in terms of bitcoin holdings. Despite a 6.4% decline in MSTR shares against the U.S. dollar over the preceding five days, MSTR has witnessed a 49.4% increase over the last month.
