MicroStrategy’s Bitcoin Wallet Surges by 125% in Gains
If you’ve been following the latest Bitcoin news, you’ll know that MicroStrategy, led by Michael Saylor, has seen impressive gains on its Bitcoin holdings. As of now, the company’s Bitcoin wallet has reached a staggering $13.7 billion, with unrealized profits of $7.6 billion.
- MicroStrategy has achieved a gain of almost 125% on its Bitcoin holdings.
- The company made several BTC purchases totaling 193,000 BTC.
- Current market value of MicroStrategy’s holdings is $13.79 billion.
Bitcoin Hits New All-Time High Above $70,000
Bitcoin has recently surged past the $70,000 mark and set a new all-time high of $71,600. The cryptocurrency has recorded a 2.9% pump in the last 24 hours, with its market cap rising to $1.400 trillion.
- BTC’s price surge has also seen an increase in trading volume by 82%.
- MicroStrategy founder Michael Saylor tweeted about BTC reaching new all-time highs globally.
MicroStrategy’s Accumulation Strategy and Recent Purchases
MicroStrategy’s strategy of accumulating Bitcoin since September 2020 has proven to be highly profitable. The company made its first purchase of 21,454 BTC at $11,652 each and continued to buy at various price points.
- MicroStrategy purchased BTC at its lowest price of $10,419 and highest price of $59,339.
- The company’s latest purchase was of 3,000 BTC at $51,813 each in February 2024.
In a move to further increase its Bitcoin holdings, MicroStrategy announced plans to raise an additional $600 million through convertible senior notes maturing in 2030. This private offer targets qualified institutional buyers to fund more BTC purchases.
Hot Take: Embrace the Bitcoin Surge!
With Bitcoin hitting new milestones and companies like MicroStrategy reaping significant gains from their holdings, now is the time to ride the wave of crypto success. Stay updated on the latest news and trends to make informed decisions in this dynamic market!
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