CandleFocus The MicroStrategy effect: Rate of corporate bitcoin buys accelerates
2024-09-30
Author: Content Editor
Several companies, including MicroStrategy, Block, Metaplanet, Semler Scientific, OneMedNet, and soccer team Real Bedford FC, have purchased a total of 48,836 BTC since bitcoin's all-time high in March. The estimated cost of these purchases was around $3.09 billion, which would now be worth approximately $3.1 billion. MicroStrategy was responsible for 97% of the bitcoin bought by these companies, with the others spending about $92.7 million. Publicly-listed companies have been buying bitcoin for over four years, with at least fifteen different companies adding bitcoin to their balance sheets since MicroStrategy's initial purchase in August 2020. The rate of individual bitcoin disclosures from corporations is increasing, with at least 32 disclosures so far this year compared to nine in 2023, eight in 2022, 20 in 2021, and five in 2020.
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