Last Updated on 22 October 2023 by Admin
Thanks to Bitcoin’s brief ascent over the $30,000 level on Friday, MicroStrategy’s bitcoin holdings have once again become lucrative. Market confidence and the recent dismissal of charges against two Ripple executives in the XRP litigation fueled this dramatic increase in the cryptocurrency’s value.
In late September, MicroStrategy announced that it had acquired Bitcoin for around $147.3 million, purchasing 5,445 BTC at an average price of $27,053. MicroStrategy’s decision to invest in Bitcoin has paid off handsomely as the cryptocurrency market has recently shown renewed strength.
Data from ‘Saylor Tracker’ indicates that MicroStrategy has collected a healthy profit of over $14,941,479.68 due to the fact that its Bitcoins were purchased at an average price of around $29,582 USD per coin.
MicroStrategy shares followed the upward market trend and gained 5.69% on Friday, ending the trading day at $348.04.
MicroStrategy, led by co-founder Michael Saylor and renowned for its large Bitcoin holdings, is currently the most notable corporate custodian of the groundbreaking digital currency. According to their most recent SEC filings, MicroStrategy has a massive cryptocurrency hoard consisting of 158,245 BTC, which is now worth more than $4.69 billion.
Compared to other publicly traded companies like Marathon Digital and Galaxy Digital, which have 13,286 and 12,525 BTC, respectively, MicroStrategy now has the largest Bitcoin holdings (as measured by ‘Buy Bitcoin Worldwide’).