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MicroStrategy’s Bitcoin Stash Hits 2.1% of BTC Supply, But There’s a Catch
MicroStrategy has been acquiring Bitcoin for nine consecutive weeks, with the latest purchase announced on January 11, bringing its total holdings to 132,500 BTC, approximately 2.1% of the entire supply.
As per the company’s announcement, MicroStrategy now holds over $4 billion in Bitcoin, an astonishing increase from the initial 21,000 BTC purchased in July 2020. This development has sent shockwaves through the crypto market, sparking concerns about institutional investment and the potential impact on the overall market dynamics.
The acquisition strategy by Michael Saylor, co-founder and chairman of MicroStrategy, suggests that smaller yet strategic purchases are being made to further solidify their Bitcoin holdings. The firm’s commitment to acquiring Bitcoin is unwavering, with no clear indication of slowing down this trend anytime soon.
This growth in the company’s Bitcoin stash has raised several concerns within the cryptocurrency community about institutional investors like MicroStrategy potentially controlling a significant portion of the market supply.
Source: u.today
