MicroStrategy’s Bitcoin Holdings Top 607,000 as US Crypto Regulation Advances

MicroStrategy, the leading corporate Bitcoin holder, announced a recent purchase of 6,220 BTC, increasing its total holdings to a staggering 607,770. This brings the company’s total investment in Bitcoin to approximately $43.61 billion, with an average cost of $71,756 per coin.

This news comes on the heels of the GENIUS Act’s passage, establishing federal guidelines for stablecoins. While the Act boosted Coinbase and Robinhood stocks, MicroStrategy’s stock experienced a downturn, falling 7.2% over Thursday and Friday – its worst two-day performance since late May. This dip mirrors a recent Bitcoin price correction from record highs above $123,000 to around the $117,000 mark.

Analyst Gus Gala of Monness, Crespi, Hardt maintains a Sell rating on MicroStrategy, a dissenting opinion among 17 surveyed analysts. However, MicroStrategy Chairman Michael Saylor remains steadfast in his Bitcoin strategy, urging followers on X (formerly Twitter) to “Stay Humble. Stack Sats.”

The cryptocurrency market awaits further regulatory clarity with the pending CLARITY Act, aiming to distinguish between securities and commodities in the digital asset space. At the time of writing, Bitcoin trades at $117,500, showing a 14% monthly price surge and a nearly 74% year-to-date increase, currently 4% below its all-time high.

Disclaimer: This information is for educational purposes only and is not financial advice.