- MicroStrategy continues its Bitcoin acquisition strategy, purchasing another 6,556 BTC for half a billion dollars, now holding 538,200 coins as the largest corporate Bitcoin holder.
- Japanese firm Metaplanet has joined the ranks of major corporate Bitcoin holders, purchasing 330 more BTC to reach 4,855 total, making it the 10th largest corporate holder.
- While public companies collectively hold only 3.356% of Bitcoin’s supply, ETFs dominate with 6.179%, led by BlackRock’s iShares Bitcoin Trust (IBIT) which holds 573,187 BTC valued over US$50.1 billion.
- US Bitcoin ETFs have seen mixed performance in April, but recently experienced positive momentum with US$106.9 million in net inflows on Good Friday, primarily driven by BlackRock’s IBIT.
If you thought Michael Saylor would take a day off over Easter and just enjoy a break, you’d be mistaken. Saylor and his company, Strategy, did what they do best: they added more Bitcoin to their coffers. MSTR, formerly MicroStrategy, bought another 6,556 BTC for half a billion dollars.
They now hold 538,200 BTC, maintaining their position as the largest public company to HODL.
In a post following the announcement of the purchase, Saylor said on Crypto Twitter that the firm delivered its shareholders a treasury operations gain of US$459 million (AU$716.5 million) this month.
MicroStrategy’s choice to hold and manage Bitcoin as part of its corporate financial strategy is paying off for now. And Saylor is making a case for BTC as a legitimate corporate reserve asset.
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As is Metaplanet. The Japanese firm, often dubbed the Asian MicroStrategy, has just bought another 330 Bitcoin, bringing their total holdings to 4,855.
Metaplanet is now the 10th largest corporate BTC holder. Other large holders are Bitcoin miners Marathon, Riot, CleanSpark and Hut 8; financial/crypto infrastructure firms Coinbase, Galaxy Digital and Block; as well as Tesla.
Interestingly, public companies, while boasting impressive holdings – especially those in the top ten – are only holding a total of 3.356% Bitcoin combined.
ETFs Remain on Top, Amid Positive US Flows
The exchange-traded funds (ETFs), you probably guessed it, are by far the largest holders, with a 6.179% share, while countries – with the US, China, the UK and Ukraine holding most BTC – come in third place with a combined 2.522% share.
And the largest ETF of them all remains BlackRock’s iShares Bitcoin Trust (IBIT) with a substantial 573,187 Bitcoin. IBIT’s holdings are currently valued at over US$50.1 billion (AU$78.1 billion), making up 2.729% of all BTC supply.
The largest non-US fund is Swiss-based CoinShares/XBT Provider (XBTE) with 48,466 Bitcoin, or 0.231% of global holdings.
According to the list, the largest Australian Bitcoin ETFs are Global X (EBTC) and the Monochrome Bitcoin ETF (IBTC) with 1,346.4 and 308 BTC respectively. The funds make up around 0.007% of the total BTC supply.
The US spot Bitcoin ETFs have had a rough April so far, with most days closing in the red. However, the past few days have been a slight turnaround, with three out of the past four days of net inflows.
The most recent trading day – Good Friday, which isn’t a federal public holiday in the US – saw US$106.9 million (AU$166.6 million) in net inflows, with IBIT attracting the majority of inflows, a solid US$81 million (AU$126.2 million).
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