MicroStrategy’s Investment in Bitcoin Pays Off
MicroStrategy’s bet on Bitcoin has paid off, as its unrealized profits have surpassed $3 billion. The company holds over 190,000 BTC valued at more than $9 billion at the current price, making it own more than 1% of the leading cryptocurrency’s circulating supply.
Active Accumulation of Bitcoin
MicroStrategy started investing in BTC in 2020, steadily topping up its holdings. A recent disclosure shows the company acquired its holdings for a total cost of $5.93 billion, at an average price of around $31,224 per BTC.
The company also revealed that it purchased another 850 BTC last month, indicating its continuous faith in Bitcoin.
Saylor’s Long-Term Bullish Outlook
Michael Saylor, the CEO of MicroStrategy, maintains a long-term bullish outlook on BTC. He is committed to the long-term success of Bitcoin and believes that 2024 will be a pivotal year for the cryptocurrency.
He expressed his confidence, stating that “2024 is the year of the birth of Bitcoin as an institutional-grade asset class,” and emphasized that the next 15 years will mark a regulated, institutional, high growth period for Bitcoin.
Hot Take
MicroStrategy’s unwavering commitment to Bitcoin has seen its profits skyrocket, highlighting the potential for long-term gains in the cryptocurrency market. With the company’s proactive approach, it’s poised to capitalize on the institutionalization and growth of Bitcoin in the years to come.
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