In just one month, the BTC holdings of 9 new spot Bitcoin ETFs will surpass MicroStrategy and achieve a flip:
MicroStrategy currently ranks first among listed companies’ BTC holdings with 190,000 BTC ($8.36 billion), with an average purchase price of $31,224.
What’s interesting is that its total market value is only US$7 billion, that is, the value of its BTC holdings is even higher than its total market value, and its “price-to-book ratio” is less than 1.
The reason behind it is also very simple. Before the ETF was passed, many investors allocated MicroStrategy as a "quasi-Bitcoin ETF". Now with Tiantian, it has naturally become Mrs. Niu.
