- Arkham Intelligence has disclosed in a recent report that MicroStrategy holds an additional 70,816 BTC, bringing its total assets to $54.5 billion.
- An analyst has explained that the rising institutional interest and the growing demand for Bitcoin could send the price to $126k in the medium term.
Michael Saylor’s MicroStrategy has been one of the largest holders of Bitcoin, with its acquisition strategy raising concerns of future price manipulation. Delving into its Bitcoin activities, we came across a recent report by Arkham Intelligence hinting that MicroStrategy has an additional holding of 70,816 BTC.
According to the report, this implies that the company’s total holdings amount to $54.5 billion. Mathematically, this represents 87.5% of the assets hel,d including the one in Fidelity Digital’s omnibus custody.
Prior to this, an amount of 107K BTC was sent to MicroStrategy’s Fidelity deposits. Meanwhile, Arkham explains that Fidelity does not segregate custody; henceforth, the deposited Bitcoins do not show. Currently, more than 327K BTC is reported to be held in segregated custody, and this includes Coinbase Prime.
Fascinatingly, this report has generated several comments from enthusiasts. According to a Bitcoin-focused page identified as Blackwidow, Arkham might have “publicly dox and violated privacy” with this discovery. Basically, Blackwidow believes that the whole point of Bitcoin’s operation is based on privacy.
Wouldn’t you be livid if someone doxxed your bank account? If a bank did this, you all would be outraged and screaming. ‘Save yourselves and buy Bitcoin.’
Similarly, another page dedicated to crypto updates, Bitcoin Insights, has highlighted that making this information public could make them a target of social engineering hackers.
MicroStrategy’s Bitcoin Buying Spree
MicroStrategy has disclosed its intention to increase its Bitcoin exposure by raising $84 billion for this purpose, as explained in our previous blog post. As of May 1, a BTC yield of 13.7% had been recorded, with $5.8B Bitcoin gains achieved from year to date.
MicroStrategy announces BTC Yield of 13.7% and BTC $ Gain of $5.8B year-to-date, doubles capital plan to $42B equity and $42B fixed income to purchase bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Gain target from $10B to $15B for 2025.
In a recent update, CNF highlighted that MicroStrategy is being competed by BlackRock’s iShares Bitcoin Trust (IBIT) in a quest to hit 1 million Bitcoin holdings. In that report, IBIT was reported to have acquired a total of 573,869 BTC.
Crypto analyst Lark Davis has also highlighted that:
BlackRock and MicroStrategy are in a race to reach 1,000,000 Bitcoins. Currently, BlackRock’s $IBIT holds 573,869 BTC while $MSTR holds 553,555 Bitcoin.
Amidst the backdrop of this, Bitcoin (BTC) has declined by 0.69% in the last 24 hours and 2% in the last seven days, trading at $108k. As stated in our last analysis, Bitcoin has been predicted to hit $120k. Similarly, network economist Timothy Peterson has predicted that Bitcoin could hit $126k by June 1, as also discussed earlier.
