MicroStrategy, led by co-founder Michael Saylor, has become the company holding the largest amount of Bitcoin, with profits now exceeding $4 billion. As of the end of January, the company owned 190,000 bitcoins, acquired for a total of $5.93 billion, or approximately $31,224 per BTC. Since its first bitcoin purchase in the second quarter of 2020, MicroStrategy has regularly increased its reserve of this cryptocurrency each quarter.
Impact of the rise in Bitcoin price
The recent rise in the price of bitcoin, reaching nearly $53,000, has propelled the value of MicroStrategy’s holdings beyond $10 billion, thereby consolidating an impressive profit of over $4 billion. This significant increase follows a rally of over 20% for Bitcoin since the beginning of 2024, with a peak of $52,800 in Thursday morning, before slightly falling back to $52,000.
The influence of ETFs on the Bitcoin price
Michael Saylor recently attributed the rise in the price of bitcoin to the introduction of Bitcoin Spot ETFs, which introduced a massive imbalance in the supply and demand equation. According to him, this is the result of a decade-long wait for a BTC product accessible to retail, thus stimulating demand and, by extension, the price of bitcoin.
