- MicroStrategy has made over $1.2 billion in unrealized profits on its Bitcoin holdings as the price of Bitcoin has surged to nearly $38,000 recently.
- MicroStrategy has purchased a total of 158,400 BTC for $4.68 billion so far, at an average price of $29,586 per coin. With Bitcoin above $36,000, the company has paper profits of 23% on its holdings.
- MicroStrategy and its CEO Michael Saylor are vocal Bitcoin proponents, viewing it as a superior store of value and inflation hedge in the long-term. MicroStrategy continues to double down on its Bitcoin investment strategy.
MicroStrategy, the enterprise software company led by Bitcoin bull Michael Saylor, has reaped over $1.2 billion in unrealized profits on its Bitcoin holdings as the price of the leading cryptocurrency rallies.
Bitcoin’s Recent Price Surge
Bitcoin has climbed to nearly $38,000 in recent days, marking its highest point since the May 2022 crypto market crash. The rally has been fueled by growing optimism around the potential approval of a Bitcoin spot ETF in the US.
MicroStrategy’s Massive Bitcoin Investment
As of September 30, MicroStrategy has purchased a total of 158,400 BTC for $4.68 billion, at an average price of $29,586 per coin. With Bitcoin trading above $36,000, the company is currently sitting on paper profits of 23% on its holdings, totaling over $1.2 billion.
MicroStrategy’s Bitcoin Strategy
MicroStrategy and its CEO Michael Saylor have been vocal proponents of Bitcoin. Saylor views Bitcoin’s scarcity and decentralization as key strengths that make it a superior store of value and hedge against inflation in the long-term.
The Bitcoin investment has also boosted MicroStrategy’s stock price significantly this year. Shares are up around 160% in 2022 as the company continues to double down on its Bitcoin strategy.
