MicroStrategy’s Bitcoin Holdings Worth Over $9.9 Billion
With Bitcoin prices surging by 21% in just a month, MicroStrategy’s profits on their BTC holdings have reached a whopping $4 billion. The company currently has a stash of Bitcoin that’s valued at more than $9.938 billion, with Bitcoin trading at $52,307 at 7:47 a.m. EST. A recent investor presentation disclosed that the asset management firm held 190,000 BTC at the end of January, which were purchased for $5.93 billion, approximately $31,224 per BTC coin.
MicroStrategy Has Consistently Bought BTC Since Q2 2020
MicroStrategy began purchasing BTC in the second quarter of 2020 and has continued to do so since then. Their most recent purchase was in January this year, buying another 850 BTC valued at $37 million. In 2023, the company purchased 56,650 BTC at an average price of $33,580, as revealed by the chief financial officer Andrew Kang at a fourth-quarter earnings call in February.
Michael Saylor’s Bullish Stance On Bitcoin
Michael Saylor, the executive chairman of MicroStrategy, has been a vocal advocate of Bitcoin. During a February 6 earnings call, he referred to BTC as “the first new asset class of the modern era.” He further expressed his belief that the next 15 years will be a “regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”
“#Bitcoin represents the digital transformation of capital. Money is flowing out of 20th-century analog assets into the digital economy at an increasing rate. $BTC is digital property protected & transmitted by digital power. – Michael Saylor⚡️ February 15, 2024”
Saylor also stated that the company has no intention of selling its BTC anytime soon. This outlook is based on his expectation that MicroStrategy’s allocation in BTC will continue to pay off following the introduction of spot Bitcoin ETFs (exchange-traded funds) in the U.S. He called the launch of these investment products a “catalytic moment” in transitioning BTC from a medium of exchange to a store of value.
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