MicroStrategy’s Bitcoin Holdings and Impact on Valuation
MicroStrategy now owns 439,000 Bitcoins, which are equivalent to about $42 billion at their current price. This means it is amongst the largest owners of Bitcoin in the world, behind only Satoshi Nakamoto, BlackRock’s Bitcoin ETF, and Binance. This shift in the company’s main focus to Bitcoin in 2020 has seen its valuation increase 80 times, with its current market capitalization potentially hitting $82 billion.
Executives at the firm, including the co-founder and executive chairman, Michael Saylor, have maintained high levels of support for the Bitcoin strategy, citing its ability to deliver higher growth rates in the future.