Bitcoin (BTC) experienced a price dip in September, yet MicroStrategy’s investment vehicle led by Michael Saylor pressed on, acquiring more than 7,000 BTC. This reflects a strategic continuation of their Bitcoin accumulation amid market fluctuations.
Bitcoin exchange-traded funds (ETFs) attracted substantial inflows, totaling over $240 million throughout September. This trend has benefited multinational firms such as BlackRock, which has generated $260 million in revenue from its crypto ETF products over the past two years.
While federal progress on cryptocurrency legislation in the United States has slowed due to legislative recesses, significant developments occurred in five states, including Wisconsin, which proposed legislation addressing data center tax exemptions and Bitcoin mining operations.
The stablecoin market continues its robust growth, surpassing $295 billion in total market capitalization last month, underlining steady investor demand and expanding utility within the crypto ecosystem.
Highlighted below are the key data points for September:
MicroStrategy Acquires 7,378 BTC Valued Over $837 Million
MicroStrategy’s Bitcoin investment arm purchased 7,378 BTC at an average price of approximately $113,520 each, totalling roughly $837.5 million during September. This marks the company’s 80th Bitcoin purchase, reflecting a sustained accumulation strategy.
Despite the significant acquisition, this amount denotes a slowdown compared to previous months—August saw 7,714 BTC purchased and July recorded over 31,000 BTC acquired.
Michael Saylor commented that Bitcoin’s current phase is one of gradual growth, where price volatility may appear subdued. He suggested that institutions prefer to invest during periods of lower volatility, which might make markets seem bearish prior to future gains.
Stablecoin Market Capitalization Exceeds $295 Billion
Stablecoins have witnessed persistent expansion, recording a market capitalization above $295 billion in September after months of steady growth. The market grew by nearly $5 billion within the week ending on September 26.
Regulatory clarity is emerging in various regions. In the U.S., the Commodity Futures Trading Commission is exploring the use of tokenized assets including stablecoins as collateral in derivatives markets. In Australia, the Securities and Investments Commission has introduced licensing exemptions for intermediaries distributing stablecoins.
Conversely, the European Union remains cautious. A senior official from the Bank of Italy warned that multi-issuer stablecoins posed systemic risks if not properly regulated across jurisdictions.
Crypto Millionaire Count Climbs to 241,700
The global number of crypto millionaires reached a record 241,700, indicating a 40% year-over-year increase according to Henley & Partners’ Crypto Wealth Report. This surge highlights intensified institutional adoption of digital assets throughout 2025.
The count of centimillionaires—those with crypto holdings over $100 million—rose by 38% to 450, alongside a 29% increase in crypto billionaires, totaling 36 individuals.
Bitcoin ETFs specifically attracted $241 million in inflows during September, while Ethereum (ETH) ETFs saw $73 million in net outflows. Overall, crypto ETFs recorded net inflows of $167.8 million as per CoinMarketCap data.
For some issuers, ETFs have become a lucrative business line. BlackRock reported earning $260 million in revenue from its crypto ETF instruments, comprising $218 million from Bitcoin ETFs and $42 million from Ethereum.
Five U.S. States Advance Cryptocurrency Legislation
As crypto adoption advances within the United States, regulators at the state level are taking steps to shape industry frameworks. Five states made legislative progress on crypto bills during September.
Notably, Wisconsin proposed a bill to exempt data centers from sales and use tax, except those utilized for cryptocurrency mining. This bill supports rural data center development but has faced scrutiny over resource consumption concerns.
Seven EU Member Nations Now Oppose Chat Control Law
Seven European Union member countries currently oppose the proposed Chat Control laws, which would impose content screening on encrypted messages across platforms like WhatsApp and Signal. Support for the law has declined from 15 members earlier in the month to 12, according to monitoring by Fight Chat Control.
Introduced several years ago and recently reintroduced by Denmark, the law aims to prevent EU-based encrypted messaging services from being used for illicit content but has sparked privacy concerns.
