MicroStrategy’s acquisition follows predictions that Bitcoin ETFs could surpass gold ETFs in assets under management during the next two years.
Michael Saylor’s MicroStrategy has acquired an additional 3,000 Bitcoin for a total of $155 million at an average price of $51,813 between Feb. 15 and 25.
This brings the company’s Bitcoin (BTC) holdings to 193,000 Bitcoin, acquired for $6.09 billion at an average price of $31,544, according to a Feb. 26 X post by Michael Saylor, the founder and chairman of MicroStrategy, which is the largest Bitcoin holder among publicly traded companies.
While Bitcoin ETFs have absorbed over $5 billion in net assets since launching, gold ETFs amassed $3.6 billion during the same period. Gold ETFs could potentially struggle to keep their $90 billion in assets due to gold’s price performance, noted Balchunas and Yapp in the report. Gold prices are down 0.01% in the past 24 hours to $2,033 per ounce, according to data from Gold Price.
