MicroStrategy Makes Another Bitcoin Purchase Worth $600 Million
MicroStrategy, the business intelligence software giant, has made its latest Bitcoin purchase, acquiring 16,130 BTC for approximately $593.3 million. This is the second BTC purchase the company has made this month, adding to its total stash of 174,530 BTC. With the current price of Bitcoin at $37,750, MicroStrategy holds an unrealized profit of over $1.2 billion.
MicroStrategy’s Stock Price Soars
MicroStrategy’s stock price has experienced a significant surge this year due to its connection to Bitcoin and the cryptocurrency’s impressive performance. The company’s shares have risen by 250% in 2023, reaching a high not seen in over a year at above $520. Although there has been a slight retracement, MicroStrategy’s stock price remains above $500.
Hot Take: MicroStrategy Continues to Embrace Bitcoin
MicroStrategy continues to display its commitment to Bitcoin by making another substantial purchase of the cryptocurrency. With a total stash of over 174,000 BTC and an unrealized profit of over $1.2 billion, the company’s pro-Bitcoin strategy has proven to be lucrative. This move reinforces MicroStrategy’s belief in the long-term potential of Bitcoin as a store of value and investment asset.
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