CDS Crypto News MicroStrategy’s Bitcoin Investment Nets $614 Million in Profits as BTC Surges
Crypto News

MicroStrategy’s Bitcoin Investment Nets $614 Million in Profits as BTC Surges

364
MicroStrategy's Bitcoin Investment Nets $614 Million in Profits as BTC Surges

MicroStrategy’s Bitcoin Investment Nets $614 Million in Profits as BTC Surges

Crypto News – In a strategic move back in August 2020, MicroStrategy ventured into the world of Bitcoin, and their foresight is paying off handsomely. The company has now emerged as one of the leading institutional holders of the cryptocurrency, with their Bitcoin holdings currently valued at over $5.36 billion. As of October 24th, MicroStrategy’s Bitcoin stash amounted to 158,245 BTC, acquired at an average cost of $29,870 per coin. After weathering a period of decline, these holdings are now showing substantial profits.

The recent surge in Bitcoin’s price, surpassing the $33,000 mark, has bolstered MicroStrategy’s paper profits, catapulting them to approximately $614 million. This represents a remarkable 13% increase over their initial investment.

MicroStrategy's Bitcoin Investment Nets $614 Million in Profits as BTC Surges

What sets MicroStrategy apart is its unique approach to Bitcoin investment. The company has consistently raised funds to acquire more of the cryptocurrency. In 2023, they added 5,444 BTC by securing an equivalent amount of capital, following a similar strategy that allowed them to purchase about 12,333 BTC earlier in the year. This approach has enabled MicroStrategy to expand its Bitcoin portfolio while keeping its financial liquidity and balance sheet intact.

Co-founder and chairman, Michael Saylor, stands out as a vocal advocate for Bitcoin as a store of value. He has shared data illustrating how Bitcoin outperforms traditional assets ever since the company embraced its cryptocurrency-buying strategy. Saylor is unwavering in his belief that Bitcoin serves as a hedge against inflation and remains committed to long-term investments in the cryptocurrency.

MicroStrategy's Bitcoin Investment Nets $614 Million in Profits as BTC Surges
Sources:Coincu

Leave a comment

Leave a Reply

Related Articles

Crypto News – MicroStrategy’s $42 Billion Bitcoin Bet: Risks and Rewards Ahead

MicroStrategy's ambitious plan to acquire an additional $42 billion in Bitcoin faces...

Bitcoin Price Soars 2.4% Amid Election Uncertainty, Ethereum Struggles

As the U.S. presidential election approaches, Bitcoin surges above $70,000, driven by...

Bold Economist Prediction: Bitcoin Price Stability Predicted as Analyst Sees 50% Chance Above $60K

Bold Economist Prediction: Bitcoin Price Stability Predicted as Analyst Sees 50% Chance...

5 November Major Crypto News: Dogecoin Surges Over 13%, Outperforming Major Cryptos Amid Election Buzz

5 November Major Crypto News: Dogecoin Surges Over 13%, Outperforming Major Cryptos...