MicroStrategy’s latest Bitcoin purchase coincides with forecasts suggesting that Bitcoin ETFs may outpace Gold ETFs in assets under management within the next two years. CEO Michael Saylor disclosed the acquisition of an additional 3,000 Bitcoin, totaling $155 million, with an average purchase price of $51,813 between Feb. 15-25. This transaction increases MicroStrategy’s Bitcoin holdings to 193,000 BTC, acquired for $6.09 billion at an average price of $31,544. The company, renowned as the largest Bitcoin holder among publicly traded firms, made this announcement on Feb. 26 via Michael Saylor’s official account.
The revelation of MicroStrategy’s Bitcoin acquisition coincided with a security breach on their official account, where a hacker posted fraudulent links to fake token airdrops, resulting in the theft of over $440,000. Meanwhile, senior Bloomberg analysts foresee a potential shift in the dominance of ETFs, with Bitcoin ETFs posing a competitive threat to traditional Gold ETFs. The successful launch of Bitcoin ETFs could challenge gold’s supremacy in the asset management arena, as highlighted in a research report shared by senior Bloomberg analyst Eric Balchunas and associate analyst Andre Yapp on Feb. 26.
Since their launch on Jan. 11, 10 spot Bitcoin ETFs in the United States have collectively acquired 5,500 Bitcoin, accumulating over $5 billion in net assets. In comparison, Gold ETFs amassed $3.6 billion during the same period, indicating a potential struggle to maintain their $90 billion in assets due to gold’s subdued price performance.
MicroStrategy’s CEO Michael Saylor reiterated his commitment to Bitcoin on Feb. 20, expressing his intention to continue purchasing the cryptocurrency indefinitely. Saylor emphasized Bitcoin’s technical superiority over traditional assets like gold, real estate, and the S&P 500, stating, “there’s just no reason to sell the winner to buy the losers.”
As of the latest update, Bitcoin is trading at $51,314, representing a 0.67% decline over the past 24 hours, according to CoinMarketCap data.