Key facts:
Grayscale has accumulated more than 254,000 bitcoins. MicroStrategy, meanwhile, has just over 252,000 BTC.
Only Satoshi Nakamoto, Binance, BlackRock and Fidelity surpass those companies in BTC holdings.
MicroStrategy, the computing company led by Michael Saylor, is on the verge of surpassing the Grayscale investment fund in total bitcoin (BTC) holdings.
According to the follow-up According to cryptocurrency investor Shaun Edmonson, Grayscale has 254,677 BTC, while MicroStrategy holds 252,220 BTC, a difference of just 2,447 BTC.
Since the beginning of the year, MicroStrategy has significantly increased its bitcoin holdings. It should be noted that in January, the company reported holdings of around 189,150 BTC. Also, in a matter of two weeks, the company has bought more than 25,000 bitcoinwith an initial purchase of 18,000 BTC and another of 7,400 BTC.
On the other hand, Grayscale, which was once the largest bitcoin investment fund in the world, has significantly reduced its holdings, going from 619,000 BTC at the beginning of the year to the current 254,677 BTC.
MicroStrategy has shown a marked tendency towards accumulating large amounts of bitcoin, with significant acquisitions that have increased their holdings considerably over short periods. This aggressive buying strategy suggests that MicroStrategy could, in the short term, overtake Grayscale in terms of total bitcoin holdings, thus closing the gap that currently separates them.
It should be remembered that MicroStrategy’s strategy, led by Michael Saylor, focuses on the accumulation of bitcoin as a store of value and long-term investment strategy, reflecting a confidence in the potential for bitcoin to appreciate over time. This strategy has been adopted and extrapolated by other companies, such as Metaplanet in Japan, known as the “Japanese MicroStrategy.”
MicroStrategy and Grayscale hold more BTC than other entities
According to investor Edmonson’s list, both MicroStrategy and Grayscale are companies that outhold bitcoin entities such as the US government, which has 203,239 BTC, the Bitfinex exchange, which has 200,669 BTC, and the Chinese government, which holds 194,000 bitcoin.
Instead, Satoshi Nakamoto (pseudonym of the creator of Bitcoin) leads with 1.1 million BTC, followed by the Binance exchange with 643,783 BTC, BlackRock with 359,271 BTC and Fidelity with 287,153 BTC; these entities are with more bitcoin compared to MicroStrategy and Grayscale.
Although not mentioned by Edmonson, Coinbase is also among the entities with the largest holdings of bitcoin. At the beginning of September, CriptoNoticias reported that Coinbase holds 11% of the total supply of bitcoin, equivalent to 2.27 million BTC.
The accumulation of bitcoin by large entities such as MicroStrategy, Grayscale and others has implications for both the stability and price of the asset. These holdings can influence the market, either through the perception of value they generate or by the buying and selling decisions they make.
The impact on the price of digital currency can be significant. The mere existence of such holdings can generate confidence in the market, driving up the price of bitcoin. However, selling large volumes could lead to sharp declines.
In the context of growing bitcoin adoption, these holdings reflect a bet on the future of the digital currency, but also underscore the risks associated with volatility and concentration of power in the hands of a few entities.
This article was created using artificial intelligence and edited by a human on the editorial staff.
