MicroStrategy‘s bitcoin (BTC) bet is now paying off as the flagship cryptocurrency’s price recently crossed $50,000 – its highest level since late 2021.
$3.5B Unrealized Profit
According to data tracking platform Saylor Tracker, following BTC’s $50,000 price, the software company’s bitcoin investment currently stands at an unrealized profit worth a staggering $3.5 billion.
In a move led by Michael Saylor, MicroStrategy adopted the Bitcoin strategy in August 2020 and has continued to accumulate substantial amounts of the leading cryptocurrency ever since.
As of today, the Tysons Corner, Virginia-based company holds approximately 190,000 BTC, purchased at an average price of around $31,224 and a total cost of $5.93 billion.
With BTC’s price hovering around $50,000, the company’s total bitcoin holdings are now worth roughly $9.55 billion, resulting in an unrealized profit of over $3.5 billion. This marks a 59.74% increase in the company’s Bitcoin portfolio.
MicroStrategy’s Bitcoin Buying Spree
MicroStrategy’s last bitcoin purchase was announced earlier this month. At the time, the company revealed it acquired an additional 850 BTC in January, bringing its total holdings to 190,000 BTC. For the whole of last year, MicroStrategy purchased 56,650 BTC at an average price of $33,580 per coin.
MicroStrategy stated that it “benefited from the significant increase in bitcoin prices in Q4 [2023].” Also, in Q4, the company posted a net income worth $89.1 million compared to a net loss of $249.7 million in 2022.
With 190,000 BTC, MicroStrategy remains the largest corporate holder of bitcoin, holding nearly 1% of the digital asset’s total supply.
At the time of writing, BTC was trading at around $50,000, marking a 4% increase on the day. With the current price, the leading cryptocurrency has increased by 17% over the past week, 16% over the last 30 days and 130% since last year.
