MicroStrategy acquires BTC as its primary treasury reserve asset
On Tuesday August 11th, MicroStrategy announced that it had adopted Bitcoin as its primary treasury reserve asset, by acquiring 21,454 BTC.
On Tuesday August 11th, MicroStrategy announced that it had adopted Bitcoin as its primary treasury reserve asset, by acquiring 21,454 BTC.The two largest asset management companies in the world (measured by Assets Under Management), BlackRock and Vanguard, are the largest shareholders of MicroStrategy and are now having indirect bitcoin exposure through MicroStrategy.Putting the investment into perspective:
21,454 BTC equals 0.1% of the fully diluted BTC Supply
21,454 BTC equals 23.8 days of the daily new supply of BTC (as 900 BTC is minted daily)
“We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility, and community ethos of Bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value. Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it. We expect its value to accrete with advances in technology, expanding adoption, and the network effect that has fueled the rise of so many category killers in the modern era.”- Michael J. Saylor, CEO MicroStrategy Incorporated