MicroStrategy‘s Bitcoin (BTC) investment has continued to pay off big as the price of the original cryptocurrency continues to rally, surging past $57,000 (its highest level in two years) on Tuesday, February 27.
$4.7B Unrealized Profit
According to Saylor Tracker, MicroStrategy’s Bitcoin investment now stands at an unrealized profit worth $4.7 billion with BTC’s current price. This means that if the company were to take profit from its current Bitcoin portfolio, it would be cashing out that staggering amount.
Data from the tracker shows that MicroStrategy spent $6.09 billion to acquire 193,000 BTC at an average purchase price of approximately $31,544 per coin. At BTC’s current price, the company’s Bitcoin portfolio is now worth $10.8 billion, which brings its unrealized profit to $4.7 billion.
This marks an 8% increase from the $10 billion unrealized profit reported two weeks ago. At the time, BTC was trading at around $52,000. Moreover, with a $4.7 billion paper gain, MicroStrategy’s Bitcoin holdings are now up by 76.8%.
MicroStrategy Continues to Buy Bitcoin
MicroStrategy has continuously been buying BTC since Michael Saylor, its founder, introduced the Bitcoin strategy as far back as August 2020.
The company’s last purchase was announced just yesterday. At the time, the company said it acquired 3,000 BTC for approximately $155 million at an average price of $51,813 per coin.
According to MicroStrategy’s 8-K filing with the United States Securities and Exchange Commission (SEC), the last purchase was financed by selling the company’s Class A shares. This underscores MicroStrategy’s dedication and bullishness on the digital asset.
Bitcoin Is the Exit Strategy
In a recent interview with Bloomberg, Saylor stated that MicroStrategy doesn’t plan to sell its Bitcoin holdings but will continue to buy forever.
According to Saylor, Bitcoin is the strongest asset. He compared it with established names like Apple and Google, seeing it as far superior to S&P, real estate, and gold.
“Bitcoin is the exit strategy,” he said.
