• MicroStrategy has invested $4.17 billion to purchase 140,000 BTC.
• The investment is finally in the green as Bitcoin recently surged above $30K.
• MicroStrategy’s last purchase was 1,045 BTC for nearly $30 million.
MicroStrategy’s Bitcoin Investment
MicroStrategy is a business intelligence giant founded by Michael Saylor that made a massive bitcoin investment of $4.17 billion to purchase 140,000 BTC. With Bitcoin’s recent surge beyond the milestone of $30K, the company’s investment is finally in the green on paper, at least. The last purchase occurred when they spent nearly $30 million to buy 1,045 BTC.
MicroStrategy currently sits on over $30 million in unrealized profits from their bitcoin bet and have remained bullish on the asset despite its price fluctuations throughout 2022 and during market dips like the Terra crash and FTX meltdown.
The company accumulated its holdings between August 2020 and early April 2023 at an average valuation of $29,803 per coin which resulted in its current stash of 140,000 BTC with unrealized profits over $30 million.
Price Surge Above 30k
Bitcoin’s recent price surge beyond the milestone of $30K was welcomed by many individuals and entities who have increased their exposure during the market decline in past several months including MicroStrategy who has now begun generating some paper profits with their investments finally being able to break even due to this increase in price.
In conclusion, MicroStrategy’s massive bitcoin investment has generated some paper profits for them after it surged above 30k for the first time since June 2022 despite price fluctuations during 2022 and moments of market dips such as Terra crash and FTX meltdown as they remain bullish on this asset class with an average valuation of 29k per coin resulting in a total stash of 140k btc with unrealized profits over 30 million dollars so far