Recent days have seen significant corporate interest in cryptocurrency accumulation. Michael Saylor, head of Strategy, announced major Bitcoin purchases, while BTCS Inc. plans to increase its crypto assets.
Strategy's Bitcoin Purchase
Company Strategy, led by Michael Saylor, reported the acquisition of 21,021 BTC for approximately $2.46 billion, with an average purchase price of $117,256 per coin, making it now hold 628,791 BTC. This equates to over 0.1% of Bitcoin's total supply of 21 million coins.
BTCS Plans for Increased Crypto Acquisitions
BTCS announced plans to raise $2 billion through stock sales to expand its cryptocurrency holdings. In an S-3 registration statement filed with the U.S. Securities and Exchange Commission, the company stated that funds would be used for purchasing digital assets and other corporate purposes.
Comparison of Crypto Acquisition Strategies
Strategy now significantly outpaces other firms such as MARA Holdings, which holds only 50,000 BTC. With its recent purchases, Strategy now has an unrealized profit of over $28.1 billion, highlighting active accumulation trends among corporate entities in the crypto market.
The active corporate purchases of Bitcoin and Ethereum indicate a strategic move towards increased investments in cryptocurrencies. The strategies employed by Michael Saylor and BTCS are of interest for understanding market dynamics.
