• MicroStrategy has made an investment in Bitcoin, spending approximately $4.17 billion to purchase a stash of 140,000 BTC.
• The investment is now finally in the green, as Bitcoin reclaims the $30K mark.
• Michael Saylor-founded business intelligence giant is currently sitting on over $30 million of unrealized profits from its bitcoin bet.
MicroStrategy’s Bitcoin Bet
MicroStrategy started its accumulation spree in the summer of 2020 and purchased a stash of 140,000 BTC for around $4.17 billion. After Bitcoin’s recent surge beyond the milestone of $30K, MicroStrategy’s investment is now finally in the green, at least on paper.
Unrealized Profits
The firm has been bullish on bitcoin despite its price fluctuations and severe decline during the Terra crash and FTX meltdown; sitting on nearly $320 million of unrealized loss after bitcoin plunged following those events. However, it now sits on over $30 million in unrealized profits from its bitcoin bet.
Michael Saylor-Founded Business Intelligence Giant
The Michael Saylor-founded business intelligence giant was welcomed by many individuals and entities who have increased their exposure during the market decline in the past several months due to being one of the biggest corporate holders of Bitcoin. Its last purchase occurred last week when it spent nearly $30 million to buy 1,045 BTC; showing no signs that they are slowing down their investments anytime soon.
Price Fluctuations & Market Declines
Despite facing price fluctuations and market declines in 2022, MicroStrategy remained optimistic about its investment into bitcoin; holding a strong belief that it would eventually generate some paper profits for them if given enough time – which has ultimately come true as bitcoin reclaims the mark of $30K for the first time since June 2022.
Conclusion
This massive bet could turn out to be a huge success story for MicroStrategy if they can maintain such gains throughout 2021 and beyond; only time will tell how this plays out but so far they seem to be doing quite well with their investments into cryptocurrency overall.