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Home CRYPTO

MicroStrategy’s Bitcoin Holdings Gain $1 Billion in 24 Hours: Now Over $12 Billion

by Sham
February 28, 2024
in CRYPTO, INVESTING
Reading Time: 2 mins read
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  • MicroStrategy has accumulated over 129,000 bitcoins at an average price of $31,170 per bitcoin, including a recent $155 million purchase of 3,000 bitcoins in late February.
  • As bitcoin surpassed $60,000 on February 28th, the value of MicroStrategy’s bitcoin holdings reached an all-time high of $12.24 billion, before settling around $11.7 billion.
  • MicroStrategy and its CEO remain staunch long-term bitcoin bulls, staking the company’s future on bitcoin becoming a prominent store of value asset despite volatility.

MicroStrategy, led by CEO Michael Saylor, has aggressively accumulated bitcoin to hold on its balance sheet. As the price of bitcoin surged past $60,000 in late February 2023, the value of MicroStrategy’s bitcoin holdings reached an all-time high.

JUST IN: MicroStrategy’s #Bitcoin holdings have increased $1B in less than 24 hours 🤯

— BlockNews.com (@blocknewsdotcom) February 28, 2024

MicroStrategy’s Massive Bitcoin Purchases

MicroStrategy holds over 129,000 bitcoins acquired at an average price of $31,170 per bitcoin. The company made its most recent large purchase of 3,000 bitcoins in late February 2023, spending $155 million. This brought its total holdings to 129,218 bitcoins.

MicroStrategy’s Bitcoin Value Hits Record $12.24 Billion

On February 28th, 2023, as bitcoin rose above $60,000, the value of MicroStrategy’s bitcoin holdings reached $12.24 billion – the highest ever. After peaking at $12.24 billion, the value settled around $11.7 billion, still representing a one-day gain of over $650 million.

Bitcoin’s Price Breaks $60k Threshold

Bitcoin’s price increase to over $60,000 fueled the surge in MicroStrategy’s bitcoin value. The leading cryptocurrency rose to its highest level since October 2021, when it had last topped $60,000. Bitcoin’s rally lifted the entire crypto market higher.

MicroStrategy Remains Long-Term Bitcoin Bull

With its massive Bitcoin investment, MicroStrategy is staking its future on bitcoin becoming a prominent store of value assets. The company and CEO Michael Saylor have been very vocal Bitcoin proponents. Despite volatility, MicroStrategy remains committed to holding Bitcoin for the long term.

Tags: BitcoincryptoMichael SaylorMicrostrategy
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