MicroStrategy Profits $1.2B on its holdings as Bitcoin Soars

Led by the visionary Michael Saylor, MicroStrategy is a Tysons, Virginia-based technology company enjoying significant profits from its bold $4.27 billion bet in Bitcoin (BTC).

The recent surge in Bitcoin (BTC) to an annual high of more than $37,000 has made MicroStrategy’s multibillion-dollar wager on the leading digital asset profitable to the tune of more than $1 billion.

The largest publicly traded firm in Bitcoin, MicroStrategy, reported in its third-quarter financial report that as of September 30, it had acquired 158,400 BTC for a total of $4.68 billion. The company also revealed that each coin costs, on average, $29,586 to buy.

With Bitcoin trading at $36,671 right now, the company run by Michael Saylor has seen an amazing, around 23% increase on each of its BTC.

Read More

2023-11-09 22:12