MicroStrategy's Bitcoin Holdings Surpass 2% of Total Supply

Michael Saylor's MicroStrategy has emerged as a significant player in the Bitcoin market, with its latest purchase pushing its holdings over the 2% threshold of the total Bitcoin supply. The company, which has been an advocate for Bitcoin adoption, has been steadily increasing its BTC holdings, and its latest acquisition has solidified its position as the largest corporate Bitcoin holder.

In a recent SEC filing, MicroStrategy revealed that it had purchased 20,356 BTC for approximately $1.99 billion. The purchase was made at an average price of $97,514 per BTC, although the cryptocurrency's price had dipped to $94,305 by the time of publication. The acquisition was funded through the company's at-the-market equity program, following a $2 billion convertible note offering that was fully subscribed.

With this latest purchase, MicroStrategy's Bitcoin holdings have reached 499,096 BTC, representing over 2% of the total Bitcoin supply. The company has been a vocal advocate for Bitcoin, with its chairman, Michael Saylor, recently advising the U.S. government to buy Bitcoin. Saylor has proposed that the U.S. acquire 4 to 6 million BTC, arguing that it could pay off the entire national debt by obtaining 20% of Bitcoin's supply "for free."

Saylor has been pushing for a federal Bitcoin reserve, claiming that it would strengthen the dollar and secure America's financial dominance. He has warned that failing to act could allow rival nations to seize the opportunity first. His remarks come as U.S. states move toward their own Bitcoin reserves, with Utah's Senate panel recently advancing a BTC reserve bill. They also follow Donald Trump's order last month to explore a federal Bitcoin reserve.

MicroStrategy's dominance in corporate Bitcoin holdings is undeniable, with its holdings of over 430,000 BTC making it the largest public company holder globally. The company's strategy of accumulating Bitcoin has been a significant factor in its success, and its latest purchase is a testament to its commitment to the cryptocurrency.