MicroStrategy Holds More Bitcoin than Next Halving Output

• MicroStrategy holds 444,262 BTC, exceeding the 328,125 BTC expected to be mined from 2028 to 2032.
• Bitcoin’s next halving in 2028 will slash rewards to 1.5625 BTC per block.
• MicroStrategy’s BTC holdings exceed the total mined in the upcoming halving, signaling major institutional trust.

MicroStrategy, a business intelligence firm, gained popularity due to its large purchases of Bitcoin, with 444,262 BTC as of December 2024. This is above the 328,125 BTC estimated to be mined during the next Bitcoin halving epoch. Bitcoin halving is one of the protocol mechanisms that ensures a minimal number of new bitcoins, thereby increasing scarcity and demand.

MicroStrategy BTC Holdings Exceed Future Mining

A bitcoin halving occurs every four years, cutting the mining bonus in half to maintain a limited total supply. The previous halving epoch that began in April 2024 reduced rewards from 6.25 BTC to 3.125 BTC per block. This cycle will be completed in early 2028, followed by a new phase with rewards decreasing to 1.5625 BTC per block.

During the 2028–2032 halving epoch, Bitcoin miners are expected to produce 328,125 BTC. This is calculated by multiplying the 210,000 blocks expected in the epoch by the new reward of 1.5625 BTC. This controlled issuance is integral to Bitcoin’s protocol, capping its total supply at 21 million BTC.

Eli Nagar, CEO of Braiins Mining, emphasized this comparison on social media, noting the significance of MicroStrategy’s holdings relative to the next halving epoch’s expected output. This observation underscores the role of large-scale investors in shaping Bitcoin’s narrative and its scarcity-driven economics.

> MicroStrategy owns more bitcoin than will be mined in the entire next halving epoch.
>
> MicroStrategy: 444,262 BTC
> Next halving epoch: 328,125 BTC
>
> Let that sink in.
> — Eli Nagar (@EliNagarBrr) December 28, 2024

MicroStrategy’s holding more BTC than the entire output of the next halving epoch highlights the scale of institutional accumulation, influencing the cryptocurrency’s supply-demand equilibrium.

MicroStrategy’s Bitcoin Accumulation Strategy

Since purchasing its first Bitcoin in August 2020, MicroStrategy, led by Michael Saylor, has aimed to use BTC as a treasury reserve asset. The company has been actively expanding its Bitcoin holdings, becoming one of the largest institutional investors in the digital asset space.

As of December 22, 2024, MicroStrategy’s holdings stood at 444,262 BTC, acquired at an average price of $62,257 per Bitcoin. The last purchase involved 5,262 BTC for $561 million at an average price of $106,662 per Bitcoin, demonstrating the company’s unwavering commitment to increasing Bitcoin investments despite market volatility.