Crypto News- MicroStrategy, a company specializing in business intelligence, has reaped substantial profits from its investments in Bitcoin (BTC), totaling over $110 million in unrealized gains. This financial success coincides with the surge in Bitcoin’s value, surpassing the $30,000 mark, thus outpacing MicroStrategy’s average purchase price.
Recent Bitcoin Surge Nets MicroStrategy Over 110 Million Dollars in Unrealized Gains
According to data from Saylortracker, a platform dedicated to tracking MicroStrategy’s Bitcoin holdings, the company amassed 158,245 Bitcoins at an aggregate purchase cost of $4.83 billion. The average acquisition price per Bitcoin was approximately $29,870.14. As of the time of the report, Bitcoin was trading at approximately $30,493, indicating a profit of more than $600 per Bitcoin and a total holding value of $4.84 billion.
MicroStrategy has consistently expanded its Bitcoin holdings over the years, with its most recent acquisition involving 5,455 Bitcoins acquired between August 1 and September 24. Notably, the company now holds more Bitcoin than any other publicly-traded firm, surpassing even Marathon Digital, as indicated by data from Bitcoin Treasuries.
Michael Saylor, the chairman of MicroStrategy, has been an outspoken advocate for Bitcoin. He has shared data illustrating that Bitcoin has outperformed traditional assets such as gold, Nasdaq, silver, and bonds since MicroStrategy adopted its Bitcoin investment strategy in 2020. Furthermore, MicroStrategy’s stock (MSTR) has performed admirably, exhibiting a year-to-date increase of 138.92% and currently trading at $353.67 during pre-market trading.
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