MicroStrategy's next Bitcoin purchase may increase its BTC holdings beyond Grayscale's GBTC

2024-09-30 23:53:14

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ChainCatcher news, according to Coindesk, MicroStrategy's next purchase of Bitcoin may push its BTC holdings above Grayscale's GBTC.

According to the latest regulatory filing submitted on September 20, the company holds a total of 252,220 Bitcoins, accounting for 1.2% of the total supply, which has a cap of 21 million coins. Before the launch of the U.S. spot ETF in January, Grayscale held over 620,000 tokens in its Bitcoin Trust (GBTC) and currently holds over 254,000 tokens, divided between GBTC and its newer low-fee Bitcoin Mini Trust (BTC).

However, recent financing has left MicroStrategy with over $1 billion in funds that have yet to be deployed (or at least not announced). It is speculated that these funds may be used to purchase more Bitcoin, potentially adding thousands of Bitcoins to its balance sheet, far exceeding Grayscale's holdings.

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MicroStrategy Grayscale GBTC

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