More Bitcoins are held by MicroStrategy than by any other publicly traded company.

The corporation just added 3,907 bitcoins to its total bitcoin holdings, increasing the total to 108,992.

MicroStrategy va lever 400 millions de dollars pour acheter plus de Bitcoin  - La Crypto Monnaie

Despite owning less than 1% of all bitcoins, MicroStrategy has the most bitcoin holdings of any public corporation, according to data from Buy Bitcoin Worldwide.

Saylor has previously stated that he and his organization will continue to focus on bitcoin and will not invest in other cryptocurrencies like ethereum.

MicroStrategy Inc. purchased more bitcoin — 3,907 more bitcoins, to be precise.

According to a US Securities and Exchange Commission filing, the corporation spent nearly $177 million in cash on its new bitcoins, with an average price of $45,294 per bitcoin.

MicroStrategy a récemment acheté pour 177 millions de dollars  supplémentaires en Bitcoin BTC - La Crypto Monnaie

The most recent purchase takes the company's total holdings to 108,992 bitcoins, which were purchased for $2.918 billion at an average price of $26,769 per bitcoin.

It said that all rates include all fees and charges.

This information, however, should not come as a surprise.

Michael Saylor has previously stated that his company will continue to buy and hold bitcoin, or "HODL."

According to Blockworks, Saylor sees bitcoin as a digital asset that is "the most intriguing technical opportunity of the decade."

MicroStrategy did not respond to a request for comment from Blockworks on Tuesday.

MicroStrategy achète 20 000 bitcoins (BTC) et lance un message au Monde |  BlockBlog

While many market participants applaud MicroStrategy's decision, others are concerned that the company is "buying up" the already limited bitcoin supply.

Holding cryptocurrencies like bitcoin or stablecoins is a wonderful idea for businesses, but Saylor's technique is unique and should not be copied, according to David Tawil, head of ProChain Capital.

“He is an early adopter, a maximalist, and open about his overall approach with his investors,” Tawil added.

It should become ordinary (for businesses to possess bitcoin),” Tawil added, “but I don't think it will happen all at once.”

“For new risk-taking activities, there is a unique risk-reward ratio among public, business boards and management.

Companies with a powerful shareholder or CEO are more likely to come out on top.

From there, momentum will develop until the tide shifts, at which point corporations will be asked, "Why aren't you doing this?" by investors," he added.

With that stated, the corporation now holds less than 1% of the total 18.75 million bitcoins mined to date, or 0.58 percent to be exact.

It's worth noting that, despite the fact that more than 18 million bitcoins have been mined, there are only 21 million bitcoins in circulation.

Despite owning less than 1% of all bitcoins, MicroStrategy has the most bitcoin holdings of any public corporation, according to data from Buy Bitcoin Worldwide.

According to a tweet from Tesla CEO Elon Musk in late July, the company is in second position with “close to” 42,000 bitcoins.

“I believe that as more businesses become aware of bitcoin and inflation, we will see an increase in adoption,” said Steven McClurg, co-founder of Valkyrie Funds and Basquet Inc.

Michael Saylor broke down MicroStrategy's bitcoin strategy, how it's a  better inflation hedge than gold and what role ethereum plays in a recent  interview. Here are the 10 best quotes. | Currency

“Bitcoin is the money of the global digital economy, and you should hold bitcoin if you transact in any form digitally or if you are a tech company,” McClurg added.

Companies who have too many US dollars on their balance sheets are playing a “losing game,” according to McClurg, because the rate at which dollars are printed and inflation rises each year destroys the value of cash.

MicroStrategy's objective, according to Saylor, is to continue acquiring and holding bitcoin while educating enterprises, institutional investors, regulators, and the general public about the benefits of digital property.

“There will never be more than 21 million bitcoins, and we feel like there is a land grab right now to get as much as you can,” Saylor stated on MicroStrategy's July earnings call.

Saylor has previously stated that he and his organization will continue to focus on bitcoin and will not invest in other cryptocurrencies such as ethereum.

During the day on Tuesday, MicroStrategy (MSTR) shares declined from a high of $721 per share to a low of $691.23 per share.

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