In an audacious move that underscores the increasing corporate fascination with Bitcoin, MicroStrategy has announced the purchase of 12,000 BTC for roughly $820.17 million.
This strategic acquisition not only amplifies its already significant digital asset portfolio but also reignites its competitive rivalry with BlackRock's IBIT, painting a vivid picture of the high-stakes race for Bitcoin supremacy.
As the battlefield of Bitcoin holdings heats up, Michael Saylor's latest remarks on Bitcoin's potential to overshadow gold spotlight the unyielding belief in BTC's unmatched value proposition.
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MicroStrategy's Additional Purchase of 12,000 BTC Using Approximately $820 Million
MicroStrategy, known for its ongoing Bitcoin (BTC) acquisitions, announced on March 11, 2024, that it had used approximately $820.17 million to purchase an additional 12,000 BTC.
This recent acquisition of Bitcoin was funded through "converted debentures" and "surplus funds," with the average purchase price per BTC reported at $68,477.
Furthermore, it has been reported that the total number of Bitcoins held by MicroStrategy has reached 205,000 BTC, with an overall average purchase price of $33,706 per BTC.
Bitcoin Holdings Competition with IBIT
On March 11, it was reported that "IBIT, BlackRock's physical Bitcoin ETF, reached a Bitcoin holding of 197,943 BTC, surpassing MicroStrategy's BTC holdings." However, with this additional purchase, MicroStrategy's BTC holdings have once again exceeded those of IBIT.
Given the substantial capital inflows into BlackRock's Bitcoin ETF, it is expected that IBIT's BTC holdings will surpass MicroStrategy's again in the future.
Nonetheless, in a recent interview, Michael Saylor, of MicroStrategy, expressed his intention to continue purchasing Bitcoin at high prices without selling, indicating that MicroStrategy's BTC holdings are expected to increase further.
Additionally, in a recent interview with CNBC, Michael Saylor mentioned that "Bitcoin will consume gold in the coming months," stating, "Bitcoin encompasses all of gold's superior traits without any drawbacks."
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Robert Kiyosaki's Bold Prediction: Bitcoin to Hit $300,000 by 2024
Discover Robert Kiyosaki's bold Bitcoin prediction for 2024, where he forecasts a price of $300,000. Learn why starting small in Bitcoin investment is crucial and his views on it as an "escape parachute."
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