thecryptobasic.com
Following the latest Bitcoin (BTC) accumulation in line with its Treasury Reserve Allocation (TRA) strategy, Michael Saylor’s MicroStrategy now has more BTC than the United States and China.
MicroStrategy already bears the tag as one of the largest corporate holders of Bitcoin, a title earned after consistent Bitcoin accumulation since August 2020.
For a strategy that started as a key pivot move to protect itself from the devaluation of the US Dollar due to the growing inflation compounded by COVID-19 at the time, MicroStrategy now records global recognition for its consistent purchase.
MicroStrategy Outranks US and China Bitcoin Holdings
While MicroStrategy periodically augments its Bitcoin holdings with a BTC accumulation strategy, China and the US mostly increase their balances of the asset through confiscation in the event of illegal activities.
The recent MicroStrategy acquisition of 9,245 BTC, as reported by The Crypto Basic, a bag valued at $623 million, increased MicroStrategy’s total holdings to 214,246 BTC.
According to Ki Young Ju, the CryptoQuant Founder and CEO, this figure places the software firm ahead of the United States with a Bitcoin holding amounting to 210,000 BTC.
The figure also surpasses that of China with a total of 194,000 BTC in its controlled wallet. Despite the strides achieved so far, Michael Saylor, the company’s Founder and Chairman, has reiterated there is no plan to stop buying the coin.
Congrats, Michael!@Microstrategy now owns more #Bitcoin than the gov of China🇨🇳 (194K BTC) and the U.S. gov🇺🇸 (210K BTC), with a total of 214K BTC. https://t.co/YkjSk6PZLN
— Ki Young Ju (@ki_young_ju) March 20, 2024
BlackRock Outshines MicroStrategy
At the moment, MicroStrategy’s Bitcoin was acquired for approximately $7.53 Billion at an average price of $35,160 per BTC. Despite the slump in price, the total Bitcoin units are now worth $13,724,097,424.4 giving the firm an unrealized profit of $6.19 billion.
The only entity outpacing MicroStrategy is American investment banking giant BlackRock Inc. Notably, BlackRock has been accumulating Bitcoin through its spot ETF products, a fund that has pushed the firm’s total holdings to 238,501.10634 as of March 19 data.
Evidently, BlackRock and MicroStrategy are worth watching in the BTC accumulation scene ahead of the next Bitcoin Halving event.