MicroStrategy nears $10 billion invested in Bitcoin with latest BTC acquisition

Key Takeaways

• MicroStrategy acquired 18,300 BTC for $1.11B, bringing total holdings to 244,800 BTC.
• US-traded spot Bitcoin ETFs registered $140.7M inflows from September 9 to 12.

MicroStrategy added more funds to its Bitcoin (BTC) stash with a 18,300 BTC acquisition on Sept. 13, according to an X by the company’s CEO Michael Saylor.

The average acquisition price was $60,408, totaling approximately $1.11 billion. MicroStrategy currently holds 244,800 BTC bought for nearly $9.45 billion, at an average cost of $38,585.

According to Saylor, MicroStrategy’s year-to-date yield is 17%. At the current price of $57,887.56, the firm’s profit is 50%.

Moreover, MicroStrategy added 12,222 BTC to its treasury in Q2 alone, spending over $805 million to reinforce its Bitcoin exposure.

Notably, the company led by Saylor is the largest institution holding Bitcoin by a significant gap, as the second-largest holder Marathon Digital has roughly 26,200 BTC.

ETFs register inflows again

On top of MicroStrategy’s recent Bitcoin acquisition, US-traded spot Bitcoin exchange-traded funds (ETFs) are registering inflows again.

From September 9 to 12, these funds already showed $140.7 million in inflows. This was majorly driven by Fidelity’s FBTC nearly $116 million positive flows this week, followed by Grayscale’s Bitcoin mini trust $45.8 million in inflows.

This movement happened after two consecutive weeks of outflows registered by Bitcoin ETFs, nearing $1 billion in total fleeing capital.

Yet, Bloomberg senior ETF analyst Eric Balchunas shared earlier this week that he didn’t find the two-week outflows “too staggering,” as it represented only 0.5% of Bitcoin ETFs’ total assets under management as of Sept. 10.

Balchunas also added that the institutional adoption of Bitcoin through ETFs is “beyond unprecedented,” as these funds captured over 1,000 institutional holders’ attention in their first two 13F period. 

The Bloomberg analyst also highlighted that 20% of BlackRock’s IBIT holders are institutions and large advisors, adding that he expects to grow to 40% in the next 12 months.