MicroStrategy’s Bitcoin Plan Has Been Nothing But Lucrative – Here’s How Much They Generated

2023-10-24 08:53

As the price of Bitcoin surges, MicroStrategy’s massive bet on the cryptocurrency continues to pay off in spades according to Lookonchain.

The business intelligence firm, led by vocal Bitcoin bull Michael Saylor, holds an astonishing 158,245 bitcoins worth over $5.4 billion as of today. With Bitcoin trading above $34,000, MicroStrategy’s holdings have generated paper profits of approximately $746 million, according to blockchain data analytics firm Lookonchain.

MicroStrategy began buying Bitcoin in August 2020 and has continually added to its stockpile since then, spending a total of $4.7 billion to acquire its current stash. While the company initially took on debt to fund its Bitcoin buying spree, it has more recently relied on issuing new shares.

Between May and September of this year, MicroStrategy scooped up 28,560 more bitcoins for $734 million, lowering its average cost per bitcoin to around $29,582. This judicious move has put the company firmly in the green, even as Bitcoin remains far below its all-time high of $69,000 in November 2021.

With Bitcoin’s price rocketing higher amid growing institutional adoption, MicroStrategy’s big bet seems to be paying off in spectacular fashion. The company has essentially transformed its idle cash reserves into a lucrative Bitcoin treasury—one that keeps appreciating thanks to Bitcoin’s deflationary properties.

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The post MicroStrategy’s Bitcoin Plan Has Been Nothing But Lucrative – Here’s How Much They Generated appeared first on CaptainAltcoin.

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Источник: captainaltcoin.com

bitcoin microstrategy → Результатов: 126


Фото:

MicroStrategy bought $167M worth of Bitcoin in Q3 2023, holds over $4B total

Steadfast Bitcoin investor MicroStrategy announced that it purchased another batch of Bitcoin in its Q3 2023 earnings report on Nov. 1. Andrew Kang, Chief Financial Officer (CFO) at MicroStrategy, said: “We further increased our total bitcoin holdings to 158,400 bitcoins, adding 6,067 bitcoins since the end of the second quarter.

2023-11-2 02:45


MicroStrategy To Release Quarterly Updates On Bitcoin Holdings, Ignoring Impairment Losses

Software developer MicroStrategy is set to revamp its reporting of Bitcoin (BTC) holdings each quarter, thanks to a recent decision by the Financial Accounting Standards Board (FASB). Greater transparency into their financial health will be possible owing to this reform, which will permit businesses like MicroStrategy to declare the fair value of their Bitcoin holdings […]

2023-9-9 20:00


Фото:

Microstrategy CEO Michael J. Saylor on Bitcoin price outlook: This is ‘ideal entry point’ for investors

MicroStrategy CEO Michael J. Saylor has said that Bitcoin (BTC-USD) at its current price levels offers an opportunity and the “ideal entry point” for any investor looking to get in. Bitcoin fell to lows of $20,193 on Wednesday, setting off panic buttons among some investors as the cryptocurrency came close to breaching the 2017 bull […] The post Microstrategy CEO Michael J.

2022-6-16 20:54


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