As a seasoned crypto investor with a knack for spotting trends and a penchant for bold moves, I can’t help but admire MicroStrategy’s audacious Bitcoin strategy under the leadership of Michael Saylor. His relentless pursuit of Bitcoin has not only solidified his company’s position as a pioneer in the crypto space but also turned it into a shining example of strategic investment.
Once more, MicroStrategy, the Virginia-headquartered business intelligence company led by Michael Saylor, has grabbed attention after making a substantial Bitcoin investment.
Today, the company disclosed that they acquired approximately 27,200 Bitcoins at a total cost of about $2.03 billion, with each Bitcoin costing an average of $74,463. This purchase represents the company’s largest investment in cryptocurrency since they began doing so in 2020.
As per the recent statement, the transaction occurred from October 31 through November 10, resulting in MicroStrategy’s Bitcoin holdings increasing to approximately 279,420 coins, currently valued at around $23 billion.
Through the sale of corporate stock, this investment has been financed. Since August, MicroStrategy has managed to amass approximately $2 billion by offering 7.8 million fresh shares, primarily for boosting its Bitcoin reserves.
As a crypto investor, I’m thrilled to share that the value of our company’s Bitcoin hoard, initially purchased for approximately $11.9 billion, has skyrocketed to around $23 billion today. This phenomenal growth translates into an unrealized profit of more than $11 billion. Remarkably, according to data from Saylor Tracker, our overall return on Bitcoin surpassed the 100% mark as early as November 10. What a ride it’s been!
Furthermore, following Donald Trump’s election victory in November, the company’s stocks surged by 19.9%. This boost was an addition to the momentum gained from their Bitcoin investment strategy. As reported by Yahoo, their stocks have soared over 1900% since they incorporated Bitcoin into their primary growth plans.
Also Read: Michael Saylor Mocks WSJ Following Bitcoin’s Record High
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2024-11-11 21:08