U.Today – According to recent data shared on X by ecoinometrics, MicroStrategy now owns 1.17% of all bitcoins. MicroStrategy has been steadily increasing its holdings, which are now larger than most ETFs.
MicroStrategy currently holds over 245,000 BTC, or nearly 1.2% of the total Bitcoin supply. This massive amount represents 1.17% of the total Bitcoin supply, which is capped at 21 million coins. In terms of scale, this amount is far larger than those held by the Bitcoin ETFs Grayscale GBTC and Fidelity FBTC.
Since its first Bitcoin purchase in August 2020, MicroStrategy has steadily increased its holdings and made headlines with each acquisition.
According to a Sept. 13 update from Michael Saylor, the company’s president and co-founder, MicroStrategy has acquired 18,000 BTC for nearly $1.11 billion at roughly $60,408 per Bitcoin and has returned 4.4% on BTC for the quarter and 17.0% year-to-date. As of Sept. 9, MicroStrategy held 244,800 BTC acquired for nearly $9.45 billion at nearly $38,585 per Bitcoin.
Bitcoin price falls
Bitcoin prices fell ahead of the widely anticipated interest rate cut by the Federal Reserve, a policy move that has global markets on edge.
At press time, the largest digital asset was trading at $58,539, down as much as 2.8%. Most cryptocurrencies also posted losses.
The first US rate cut in more than four years signals looser financial conditions, which are typically favorable for riskier assets like cryptocurrencies.
Last week, Bitcoin saw $436 million in inflows, following a $1.18 billion outflow in 10 days. Short flows into Bitcoin reversed, with $8.5 million in outflows after three weeks of inflows.
According to CoinShares’ latest report, digital asset investment products experienced a reversal, with inflows reaching $436 million after a period of $1.2 billion in outflows.
This article was originally published on U.Today
