MicroStrategy, the Tysons Corner, Virginia-based software company helmed by Michael Saylor, now officially holds a staggering $10 billion worth of bitcoin (BTC) as the price of the leading cryptocurrency crossed $52,600 on Thursday.
$10B Worth of Bitcoin
According to Saylor Tracker, MicroStrategy holds a total of 190,000 BTC, bought at an average price of around $31,224 and a total cost of $5.93 billion.
As the price of bitcoin surpassed $52,600 on Thursday, MicroStrategy’s portfolio has increased by $4.06 billion to reach the $10 billion figure. This marks a gain of 67.93% on its bitcoin holdings.
By buying 190,000 BTC at a cost of $5.93 billion, MicroStrategy now has an unrealized profit of $4.06 billion on its bitcoin investment. Interestingly, the software company was sitting at an unrealized profit of $3.5 billion just yesterday.
With 190,000 BTC now worth $10 billion in bitcoin holdings, MicroStrategy maintains its leading position as the largest corporate holder of the flagship cryptocurrency. With that unit of BTC, the company holds approximately 1% of bitcoin’s circulating supply.
MicroStrategy’s bitcoin portfolio continues to rise as BTC was trading at $52,681 at the time of writing this line. This surge represents a 1.50% increase in the last 24 hours.
MicroStrategy Bitcoin Adventure
Since adopting the Bitcoin strategy in August 2020, MicroStrategy has been a true believer and an aggressive buyer of the digital asset. Led by Saylor, the company is known to make consecutive bitcoin purchases since its initial acquisition in 2020.
MicroStrategy’s last BTC acquisition was announced in early February. At the time, the company bought 850 BTC the previous month – which took its total bag to 190,000 BTC. Throughout 2023, the company acquired 56,650 BTC at an average price of $33,580 per coin.
MicroStrategy has remained bullish on BTC even during periods of turbulence for the crypto assets. Obviously, their patience and persistence are now paying off big time.
