• 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

Sam Bankman-Fried's Request for New Trial Denied

chest

A federal judge has denied Sam Bankman-Fried's request for a new trial, calling his claims baseless. He is serving a 25-year sentence for fraud related to the FTX collapse.

user avatarAndrew Smith

Celsius Founder Alexander Mashinsky Permanently Banned from Crypto

chest

Alexander Mashinsky, the founder of Celsius, has been permanently banned from the crypto industry as part of a $10 million settlement with the Federal Trade Commission (FTC).

user avatarJacob Williams

Key Figures Indicted in Major Cryptocurrency Fraud Case

chest

Several individuals have been indicted for their involvement in orchestrating cryptocurrency scams that targeted American citizens.

user avatarSon Min-ho

Bitcoin Tests 76,000 Resistance After Recovery

chest

Bitcoin is testing the 76,000 resistance zone after a controlled recovery, facing potential rejection that could lead to a return to lower price levels.

user avatarZainab Kamara

International Authorities Unite to Combat Cryptocurrency Scams

chest

International authorities from the US, UAE, and China have arrested 276 individuals involved in cryptocurrency scams that defrauded American victims of millions.

user avatarAyman Ben Youssef

Bitcoin Coinbase Premium Gap Hits Negative Levels, Indicating Increased Selling Pressure

chest

Bitcoin Coinbase Premium Gap has reached a significantly negative level, indicating increased selling pressure on Coinbase.

user avatarTando Nkube

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.