On Tuesday, Michael Saylor’s MicroStrategy announced that it had purchased another huge amount of bitcoins (BTC) through its subsidiary MacroStrategy. The firm purchased 4,167 BTC worth $190.5 million.
BREAKING: MicroStrategy has just bought 4,167 #Bitcoin ($194 million USD).
— Watcher.Guru (@WatcherGuru) April 5, 2022
This time around, instead of buying the bitcoins directly, MicroStrategy facilitated the purchase of through its subsidiary MacroStrategy, which recently signed a loan agreement worth $205 million with San Diego-based Silvergate Bank. The move was expected since immediately the affiliate company acquired the loan, Saylor said that the firm intended to buy even more bitcoins.
MicroStrategy's BTC holdings
According to a recent Tweet from Michael Saylor, MicroStrategy’s founder, MicroStrategy holds, about 129,218 bitcoins as of 4/4/22 acquired for about $3.97 billion calculated using an average price of $30,700 per bitcoin
Multiplying the total amount of bitcoins (129,218 BTC) owned by MicroStrategy by the current price of bitcoin, the latest acquisition of bitcoin puts the total value of bitcoins held by MicroStrategy at around $6 billion. This means the company has made a profit of more than $2 billion ($6B – $3.97B) from buying Bitcoin.
Microstrategy remains the single largest publicly known BTC holder.
Institutions betting big on Bitcoin
There are several institutions/companies that have accumulated vast amounts of bitcoins over the years even amid the significant market dips.
MicroStrategy leads the way with a total of 129,218 bitcoins closely followed by Elon Musk’s Tesla which owns 43,200 BTC.
In December 2021, Saylor stressed that MicroStrategy does not have a plan to sell its BTC holdings.
The other company that is known to have a considerable BTC holding is Novogratz’s crypto firm Galaxy Digital. As of September 30, 2021, Galaxy Digital held Bitcoin coins worth about $555.2 million and Ethereum coins worth about $261.4 million.