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MicroStrategy Has Been Buying Crypto Giant BTC Again, Collecting 28% Of Its Total Supply

By Harry - Crypto Specialist - 01-12-2021

Bitcoin

Mobile software firm MicroStrategy has once again been buying Bitcoin (BTC) in bulk. The company has been continuously purchasing the cryptocurrency giant since its first significant transaction in August 2020. Due to MicroStrategy’s frequent acquisitions for BTC, it has now held more Bitcoin than any other company or holder in the world. The company currently holds 121,044 BTCs with an estimated value of $7 billion at the time of writing. The latest total value comes after MicroStrategy’s recent purchase of 7002 BTC, a value of $414.4 million at the time of buying in November 2021. The CEO of MicroStrategy is long-time Bitcoin fan Michael Saylor. Saylor’s strategic investment moves to acquire more Bitcoin has meant that MicroStrategy now holds 28% of all BTC in circulation.

As previously reported by Bitcoin Magazine, MicroStrategy began their Bitcoin investing back on August 11, 2020. The initial purchase was valued at $250 million, the large transaction from the business intelligence company turned heads towards the crypto scene. In order to acquire more Bitcoin investments, MicroStrategy had restructured a new treasury reserve policy just a month after its first BTC purchase. Shortly the new policy was in place, MicroStrategy then bought 16,796 BTC, valuing at around $175 million at the time. The next time they acquired BTC was December 21, 2020, as the company had bought a further $650 million worth. MicroStrategy then went on to buy $1 billion worth in February 2021, and then another $414.4 million purchase in November 2021.

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