Michael Saylor announced On Monday, Strategie had made another huge Bitcoin purchase. The multi-billion dollar purchase of Bitcoin did not come as a surprise to the market as the company had already raised more funds to buy BTC in the lead-up to the day. What’s interesting, however, is how much BTC the listed company now owns and what this means compared to other counterparts with large stakes in the market.
Strategy’s BTC holdings have now surpassed the 800,000 BTC mark
With the latest purchase, in which the company bought 34,164 BTC, it has now seen its Bitcoin holdings surpass the 800,000 BTC mark for the first time. According to the announcement, this latest BTC purchase had netted the company a whopping $2.54 billion with an average price of $74,395 per Bitcoin.
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This brought the the total assets of the company to 815,061 BTC, bringing the total purchase history to $61.56 billion spent to date. This purchase also brought the company’s average purchase price for its BTC holdings down to $75,527, lowering its overall entry point.
However, with holdings now above 815,000 BTC, this means that Strategy has actually surpassed BlackRock when it comes to BTC holdings. Previously, BlackRock had dominated the market when Spot Bitcoin ETFs were rapidly gaining popularity and BlackRock’s holdings were growing very quickly.
However, at the time of writing, BlackRock IBIT’s total BTC holdings are under 800,000, at 798,062, according to facts from Bitbo. This is a small gap, but it shows how Strategy’s BTC purchases have continued to rise, rivaling BlackRock, a company that handles more than $12 trillion in assets.
Will Michael Saylor Stop Buying Bitcoin?
In the past, Michael Saylor has said that Strategy’s move to buy Bitcoin as treasuries was not a short-term plan, and this has been proven over the years. The company started buying Bitcoin in 2020, and five years later it is still buying BTC and remains the company with the largest BTC holdings in the world.
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In an interview with CNBC in February, Saylor reiterated his position on Bitcoin, explaining that the company has no plans to sell its Bitcoin holdings anytime soon. So far, the company has not made its exit plan public, or if there is one. For the time being, the focus remains on the the company’s BTC purchases instead of a possible sale.
Featured image of Dall.E, chart from TradingView.com