The largest cryptocurrency owner acquired 1% of all mined bitcoins

The largest corporate holder of the bitcoin cryptocurrency, MicroStrategy, managed by Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, owns approximately 1% of the total circulating supply of BTC. This was reported by Bloomberg journalists.

According to a statement filed with the U.S. Securities and Exchange Commission (SEC), MicroStrategy acquired 9245 BTC for $ 623 million between March 11 and 18. The average purchase price was $ 67,382.

The company completed a $ 603.75 million bond offering maturing in 2031. The net profit from the sale amounted to $ 592.3 million. This amount was used to buy bitcoins.

MicroStrategy is considered the largest corporate owner of cryptocurrency. MicroStrategy currently holds 214,246 bitcoins worth $ 13.5 billion. The unrealized profit from MicroStrategy’s investment in the first cryptocurrency is estimated at $ 5.9 billion.

MicroStrategy’s shares have grown by more than 1000% since the company’s first investment in bitcoin. MicroStrategy’s market capitalization has exceeded $ 20 billion. Since then, the flagship cryptocurrency has grown in value by more than 600%.

In terms of the number of bitcoins, MicroStrategy competes with the largest spot exchange-traded fund IBIT from BlackRock, whose assets have reached 237,000 bitcoins worth $ 15.9 billion since its launch in early January 2024.

As a reminder, according to analyst Fred Krueger, the fall of the entire crypto market was caused by the actions of MicroStrategy. According to Krueger, a large fund was involved in a risky trading strategy that involved selling MicroStrategy shares (MSTR) while buying bitcoin. A staggering $ 1 billion was allocated to each side of the trade. Last Friday, the strategy backfired when the fund was forced to exit the market, resulting in a $ 1 billion sale of bitcoin.