MicroStrategy now holds more than $1.6B in Bitcoin

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—by Protos Staff

NASDAQ-listed MicroStrategy has spent $650 million on Bitcoin, growing its total portfolio to $1.63 billion.

70,470 BTC. MicroStrategy says it recently bought 29,646 BTC for $21,925 per coin on average. Bitcoin last traded at those levels on December 17.

The company previously held 40,824 BTC ($948 million), which means MicroStrategy’s BTC portfolio is now 73% larger.

  • MicroStrategy is a $3 billion business intelligence unit founded and run by yacht loving Bitcoin bull Michael Saylor. 
  • It serves up data to help companies make smarter decisions, and competes with industry giants like IBM and Oracle who offer similar services.
  • MicroStrategy is over two decades old — having survived the dot com bubble (and a few pesky accounting fraud lawsuits).

MicroStrategy now has the third biggest Bitcoin treasury on record, after Barry Silbert’s Grayscale Bitcoin Trust (GBTC) and EOS devs Block.one.

Paying off. At press time, Bitcoin trades above $23,250 — 6% up from MicroStrategy’s buy price, earning the company $39 million in less than a week.

MicroStrategy says it’s spent $1.125 billion on BTC since August, with buys averaging out to $15,964 per coin. 

BTC is up 45% from there, putting Saylor’s firm in the green by more than $500 million already.

Chasing Graywhale. MicroStrategy’s stock has more than doubled since it started buying as much Bitcoin as it can afford (and then some).

But that’s nothing compared to GBTC. Demand has seen its shares return nearly 300% for the year-to-date, eclipsing Bitcoin by more than 50%.

In that time, GBTC has doubled its stash to 546,544 BTC ($12.8 billion) — representing nearly 3% of all BTC in circulation. 

Similarly to MicroStrategy, Grayscale shows no sign of slowing down.