MicroStrategy Poised to Surpass Grayscale as One of the Largest Bitcoin Holders
MicroStrategy (MSTR) is nearing the point of eclipsing Grayscale as one of the largest institutional holders of Bitcoin (BTC).
As of its most recent regulatory filing on September 20, MicroStrategy has amassed a total of 252,220 BTC, accounting for about 1.2% of the total 21 million BTC supply. In contrast, Grayscale’s Bitcoin Trust (GBTC) and its new, lower-fee Bitcoin Mini Trust collectively hold just over 254,000 BTC.
Previously, Grayscale had held around 620,000 BTC before launching its U.S. spot BTC ETFs in January, which has contributed to a decline in its overall holdings. The GBTC, which charges a management fee of 1.50%, has experienced continuous outflows, while the more competitively priced Bitcoin Mini Trust, with a fee of 0.15%, currently holds 33,753 BTC.
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Recently, MicroStrategy secured over $1 billion in capital, which analysts speculate may be directed toward further BTC purchases. Should MicroStrategy make a substantial acquisition, it would elevate the company to the fifth-largest Bitcoin holder globally, surpassing Grayscale. Only BlackRock, Binance, Coinbase, and Bitcoin’s creator Satoshi Nakamoto would hold more BTC. Importantly, while BlackRock, Binance, and Coinbase manage BTC for clients, MicroStrategy retains its holdings on its own balance sheet.
Under the leadership of Chairman Michael Saylor, MicroStrategy launched its aggressive BTC acquisition strategy in August 2020, utilizing its cash reserves and raising funds from the market. The company’s average purchase price for Bitcoin is just over $39,000, significantly lower than the current price of approximately $64,000, making MicroStrategy’s BTC holdings valued at around $16 billion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
