MicroStrategy approaches $10 billion invested in Bitcoin with latest BTC purchase

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MicroStrategy added more funds to its Bitcoin (BTC) stash with a purchase of 18,300 BTC on September 13, conformable to an X by the company’s CEO, Michael Saylor.

The average purchase price was $60,408, totaling approximately $1.11 billion. MicroStrategy currently holds 244,800 BTC bought for nearly $9.45 billion at an average cost of $38,585.

According to Saylor, MicroStrategy’s annual return is 17%. At the current price of $57,887.56, the company’s profit is 50%.

Moreover, MicroStrategy added 12,222 BTC to its treasury in Q2 alone, spending over $805 million to build its Bitcoin exposure.

Notably, the Saylor-led company is the largest institution holding Bitcoin by a significant margin, as the second largest holder Marathon Digital has around 26,200 BTC.

ETFs are seeing inflows again

In addition to MicroStrategy’s recent purchase of Bitcoin, US-traded Bitcoin exchange-traded funds (ETFs) are once again seeing inflows.

Between September 9 and 12, these funds have already recorded inflows of $140.7 million. This was mainly driven by almost $116 million in positive inflows of Fidelity FBTC this week, followed by $45.8 million inflows of Grayscale’s Bitcoin minitrust.

The move came after two straight weeks of outflows from Bitcoin ETFs, approaching $1 billion in total capital fled.

However, Bloomberg senior ETF analyst Eric Balchunas impart earlier this week that he didn’t think the two-week outflows were “too staggering” because they represented just 0.5% of the total assets under management of Bitcoin ETFs since September 10.

Balchunas also added that the institutional adoption of Bitcoin through ETFs is “beyond unprecedented,” as these funds have captured the attention of more than 1,000 institutional holders in the first two 13F periods.

The Bloomberg analyst also pointed out that 20 percent of BlackRock’s IBIT holders are large institutions and advisors, adding that they expect that to grow to 40 percent in the next 12 months.

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