- MicroStrategy has made over $4 billion in profit so far on its massive bitcoin investment of around 190,000 bitcoins purchased at an average price of $30,700.
- MicroStrategy and its CEO Michael Saylor have spent approximately $6.7 billion acquiring bitcoin since first buying it in August 2020, becoming advocates for bitcoin as a long-term store of value.
- It remains uncertain if bitcoin will continue substantially increasing in price, but MicroStrategy is betting big that adoption will grow and bitcoin’s value along with it, with the company committed to buying more.
MicroStrategy’s massive bitcoin investment has generated over $4 billion in profit so far. The company, led by CEO Michael Saylor, owns about 190,000 bitcoins purchased at an average price of $30,700. Saylor has been one of the most vocal proponents of bitcoin as a long-term store of value.
MicroStrategy’s Bitcoin Purchases
MicroStrategy first bought bitcoin in August 2020 and has continued accumulating more. In total, the company has spent about $6.7 billion to acquire its bitcoin horde. The price of bitcoin has increased significantly since those purchases, now trading above $35,000. That has made MicroStrategy’s bitcoin investment extremely profitable on paper.
Saylor’s Bitcoin Evangelism
Beyond just buying bitcoin for its corporate treasury, MicroStrategy has become one of the most prominent corporate advocates for bitcoin under Saylor’s leadership. Saylor frequently touts bitcoin’s potential on Twitter and in media interviews. He has said bitcoin will become the world’s default digital store of value and “the future of money.” Saylor aims to educate other companies and institutions on adopting bitcoin.
The Future
It remains to be seen whether bitcoin will continue appreciating substantially in price. But MicroStrategy is betting big that bitcoin’s value will grow over time as adoption increases. With the company sitting on gains of over $4 billion already, Saylor’s bitcoin gambit has proven very lucrative so far. MicroStrategy remains committed to acquiring more bitcoin when possible.
