MicroStrategy’s BTC Investment Hits $745 mn Profit
According to Watcher Guru, a real-time finance coverage platform, Michael Saylor’s MicroStrategy Bitcoin investment is now worth $745 million unrealized profit. Watcher Guru revealed this in a recent post on its X account.
According to reports, MicroStrategy’s Bitcoin holdings have turned profitable as a result of the flagship cryptocurrency’s recent rally. A buying frenzy appears to have taken over the market, as Bitcoin has risen 17.5% since yesterday. According to TradingView data, the recent rally pushed Bitcoin’s price to $35,198, the highest it has been since the beginning of 2023.
Following years of active Bitcoin accumulation, the investment firm now has 158,245 BTC in its portfolio. According to reports, the firm’s average purchase price per Bitcoin is $29,870. In August 2020, the institutional investor purchased its first Bitcoin and promised to continue stockpiling the pioneer cryptocurrency. So far this year, MicroStrategy has added 5,445 Bitcoins to its portfolio.
(With inputs from Shikha Singh)
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