• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

MicroStrategy May Become the Largest Institutional Holder of Bitcoin, Overtaking Grayscale

user avatar

by Giorgi Kostiuk

2 years ago

MicroStrategy is on the verge of surpassing Grayscale and becoming one of the largest institutional holders of Bitcoin.

MicroStrategy's Increasing Bitcoin Holdings

According to its latest regulatory filing on September 20, MicroStrategy holds 252,220 BTC, or 1.2% of the total supply of 21 million BTC.

Grayscale's Asset Decline

Grayscale held 620,000 BTC before the launch of its US spot BTC ETFs in January, and the approval has led to a reduction in its holdings to just over 254,000 BTC. Grayscale’s GBTC has seen a sustained outflow of assets, while its more competitive Bitcoin Mini Trust currently holds 33,753 BTC.

MicroStrategy's Strategy and Prospects

MicroStrategy recently raised more than $1 billion in capital, which analysts believe will likely be used to purchase additional BTC. This acquisition would make MicroStrategy the fifth-largest Bitcoin holder globally, surpassed only by BlackRock, Binance, Coinbase, and BTC founder Satoshi Nakamoto.

If the current trends continue, MicroStrategy is set to surpass Grayscale and become the largest institutional holder of Bitcoin, reinforcing its position in the cryptocurrency market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Coinbase's Faryad Shirzad Critiques BPI's AML Report

chest

Coinbase's Chief Policy Officer, Faryad Shirzad, critiques the Bank Policy Institute's AML report, arguing it misrepresents illicit crypto activity as a small percentage of total on-chain volume.

user avatarTenzin Dorje

BPI Advocates for Stricter AML Regulations for Cryptocurrencies

chest

The Bank Policy Institute (BPI) calls for stricter anti-money laundering (AML) regulations for cryptocurrencies in the US, highlighting their use in illicit activities and urging Congress to address legal imbalances.

user avatarBayarjavkhlan Ganbaatar

Metaplanet Secures $50 Million Loan to Purchase Bitcoin with Zero Interest

chest

Metaplanet has secured a $50 million loan to purchase Bitcoin without paying interest by issuing zero-coupon bonds.

user avatarMohamed Farouk

Bitcoin ETFs Show Strong Performance Amid Market Recovery

chest

US spot Bitcoin ETFs have recorded their best performance since the October market crash, with significant inflows indicating strong demand.

user avatarElias Mukuru

Ethereum Faces Resistance at $2,400 Amidst Ongoing Consolidation

chest

Ethereum is struggling to break above the $2,400 resistance level while maintaining gains from February.

user avatarDiego Alvarez

Ethereum Shows Signs of Recovery Amidst Cautious Market

chest

Ethereum is consolidating around the $2,300 mark, indicating a recovery from February lows, but still facing resistance at $2,400.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.