MicroStrategy owns nearly 1% of Bitcoin’s circulating supply after new purchase Insights BitcoinCrypto Equities
MicroStrategy owns nearly 1% of Bitcoin’s circulating supply after new purchase
MicroStrategy's overall Bitcoin play is paying off with $1.3 billion profit amid market fluctuations.
Quick Take
MicroStrategy’s aggressive expansion into the Bitcoin market takes another leap as the firm adds 16,130 BTC to its coffers at $593.3 million, procured at an average price of $36,785 per Bitcoin.
This significant acquisition stresses MicroStrategy’s unwavering commitment to the digital asset, bringing the company’s total holdings to 174,530 BTC, costing approximately $5.28 billion.
The acquisition strategy, with an overall average investment price of $30,252 per unit, has positioned the firm favorably in the face of the current Bitcoin price of roughly $37,700. The calculated result is a profit margin of approximately $1.3 billion, a substantial profitability indicator.
MicroStrategy owns approximately 0.90% of the total circulating supply of Bitcoin, which is 19.5 million BTC.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.