MicroStrategy now holds over 245,000 BTC, or nearly 1.2% of the total Bitcoin supply. This huge amount accounts for 1.17% of the total Bitcoin supply, which is limited to 21 million coins. For scale, this is far larger than the amounts owned by Bitcoin ETFs, Grayscale GBTC and Fidelity’s FBTC.
Since its first Bitcoin purchase in August 2020, MicroStrategy has consistently increased its holdings, making headlines with each acquisition.
According to a Sept. 13 update offered by Michael Saylor, the company’s chairman and cofounder, MicroStrategy has acquired 18,300 BTC for nearly $1.11 billion at roughly $60,408 per Bitcoin and has achieved a BTC yield of 4.4% QTD and 17.0% YTD. As of Sept. 9, MicroStrategy held 244,800 BTC acquired for nearly $9.45 billion at nearly $38,585 per Bitcoin.
At press time, the largest digital asset was trading at $58,539, down as much as 2.8%. The majority of cryptocurrencies also nursed losses.
The first U.S. rate cut in more than four years signals looser financial conditions, which are normally favorable for riskier assets like cryptocurrencies.
Bitcoin saw $436 million in inflows over the last week, following a 10-day outflow of $1.18 billion. Short-Bitcoin flows reversed, with outflows of $8.5 million following three weeks of inflows.
According to the most recent CoinShares report, digital asset investment products experienced a reversal, with inflows hitting $436 million following a period of outflows of $1.2 billion.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
