MicroStrategy’s Bitcoin Stash Hits $3 bn In Unrealized Profit
MicroStrategy, a business intelligence firm founded by Bitcoin bull Michael Saylor, has increased its Bitcoin holdings to over $9 billion, bringing its unrealized profit to over $3 billion.
The firm, which started investing in Bitcoin in 2020, made its first purchase of $250 million worth of Bitcoin in August 2020.
Since then, it has steadily increased its holdings, now holding approximately 190,000 Bitcoins, or almost 1% of the circulating supply.
The company’s investment in Bitcoin has been driven by an ongoing crypto market bull run led by Bitcoin, with the firm now holding 190,000 Bitcoins at a total cost of $5.93 billion, or $31,224 per Bitcoin.
MicroStrategy is committed to Bitcoin in the long run and is not planning to sell its holdings anytime soon.
The company’s buying trend indicates more Bitcoin acquisitions in the future. The company’s investment in Bitcoin has paid off so far, and it is set to benefit even more in the coming months due to the Bitcoin halving and widespread spot Bitcoin ETFs.
If Bitcoin’s bull run continues, MicroStrategy’s unrealized profits could reach tens of billions of dollars.
(With inputs from Shikha Singh)
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