MicroStrategy, the dominant holder of Bitcoin among US listed companies, disclosed last night that it has invested an additional $155 million to acquire 3,000 Bitcoin in February, bringing its total holdings to 193,000 coins. With Bitcoin breaking through $55,000 earlier, the company’s holdings have gained as much as $4.8 billion.
MicroStrategy, a publicly traded software company in the United States, continues to sit firmly on the throne as the largest holder of Bitcoin among listed companies. The company’s founder and CEO, Michael Saylor, announced last night that MicroStrategy has added 3,000 Bitcoin, bringing its total holdings to 193,000 coins.
According to documents submitted by MicroStrategy to the US Securities and Exchange Commission (SEC), the company purchased an additional 3,000 Bitcoin for $155 million between February 15 and 25. Saylor stated in a tweet:
“With the listing of Bitcoin spot ETF in the US at the beginning of the year, as well as the positive expectations for the upcoming halving in April, the price of BTC has continued to rise. As of press time, the price has exceeded $55,725, experiencing a surge of 8.4% in the past 24 hours.”
This has pushed the value of MicroStrategy’s Bitcoin holdings to over $10.885 billion, meaning the company’s Bitcoin gains have skyrocketed to $4.795 billion, completely offsetting the long-term losses of billions of dollars from last year. The company’s stock price has also soared, with MSTR closing at $796.48 today, a 15.86% increase.
MicroStrategy’s total Bitcoin holdings now stand at 193,000 coins, more than 12 times that of the second-ranked mining company, Marathon. Source: Bitcoin Treasuries.
Despite the nearly $4.8 billion in profits from MicroStrategy’s Bitcoin investments, the company has no plans to sell. As a firm believer in Bitcoin, Michael Saylor emphasized in a recent interview that “MicroStrategy has no plans to sell Bitcoin in the near future or even forever, and remains bullish on BTC.”
Saylor stated that he will always buy top assets, and holding Bitcoin is MicroStrategy’s exit strategy from the market. With Bitcoin’s market value surpassing $1 trillion and competing with larger asset classes such as gold, real estate, and the S&P 500, Saylor believes Bitcoin is superior to all of these categories.
In January, Michael Saylor announced a plan to sell MicroStrategy shares daily, selling a total of 315,000 shares of his personal holdings by April 25, worth approximately $216 million, with the proceeds to be used to further acquire Bitcoin.