• 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

SEC Drops Lawsuits Against Major Crypto Firms, Acknowledges Past Mistakes

chest

The SEC has dropped seven lawsuits against major crypto firms, including Binance and Coinbase, acknowledging past mistakes in resource allocation.

user avatarJacob Williams

Ripple Achieves Major Milestones in Legal and Regulatory Landscape

chest

Ripple has made significant progress since 2018, overcoming legal challenges and expanding its services while gaining regulatory recognition.

user avatarZainab Kamara

Ripple's CEO Boldly Claims Company is Taking Over SWIFT

chest

In a resurfaced 2018 interview, Ripple CEO Brad Garlinghouse expressed confidence in the company's potential to surpass SWIFT in the global payments landscape.

user avatarSon Min-ho

Binance Implements New Execution Rule to Enhance Market Stability

chest

Binance announces the introduction of the Spot Price Range Execution Rule (PRER) to prevent user orders from being executed at abnormal prices during extreme market conditions.

user avatarAyman Ben Youssef

Bitcoin Approaches Critical Distribution Phase in Market Cycle

chest

New analysis indicates Bitcoin is nearing a stage where distribution risks may increase, highlighting the importance of monitoring the next phase of its market cycle.

user avatarTando Nkube

NYT Journalist Claims to Have Unmasked Bitcoin's Creator

chest

A New York Times journalist has identified Adam Back as a potential candidate for the identity of Bitcoin's creator, Satoshi Nakamoto, after extensive research.

user avatarKofi Adjeman

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.