MicroStrategy Profits Reached Over $200M With Current Bitcoin Price Rally
Key Points:
- MicroStrategy’s Bitcoin holdings reach $4.68 billion, with a $206 million profit.
- MicroStrategy profits are achieved thanks to Bitcoin’s surge to nearly $31,000.
- Saylor steps down as CEO, and MicroStrategy considers a $750 million share sale to boost Bitcoin holdings.
As of September 24, 2023, MicroStrategy, a Virginia-based software firm, has increased its Bitcoin holdings to approximately 15,8245 bitcoins, with a total investment of about $4.68 billion, at an average holding price of $29,582 per Bitcoin.
MicroStrategy Profits Reached More Than $200 Million
With the current Bitcoin price at $30,888, MicroStrategy profits are now $206 million from its cryptocurrency investments.
The co-founder of MicroStrategy, Michael Saylor, has been reaping the benefits of the substantial Bitcoin investment. The cryptocurrency recently reached nearly $31,000, its highest value since July. MicroStrategy had previously disclosed an average purchase price of $29,582 for the $4.68 billion in Bitcoin it currently holds.
MicroStrategy initiated Bitcoin purchases in 2020 and has increased acquisitions this year, aligning with the cryptocurrency’s recovery from a challenging period marked by fluctuating rates and notable crypto failures. Following eight consecutive quarterly losses, MicroStrategy profits in the first and second quarters, with third-quarter results expected on November 1.
Michael Saylor’s Bitcoin Strategy Pays Off
According to Bloomberg, both MicroStrategy’s shares and Bitcoin have witnessed substantial growth this year, with the former surging by approximately 160% and the latter by 85%. Despite a 74% drop in MicroStrategy’s stock and a 64% decline in Bitcoin in 2022, both assets are now demonstrating robust performance.
Saylor’s strategic focus on Bitcoin led to his stepping down as CEO last year, and the company is currently considering raising up to $750 million through share sales to further enhance its Bitcoin holdings and address working capital requirements.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
Bitcoin
MicroStrategy Profits Reached Over $200M With Current Bitcoin Price Rally
Key Points:
- MicroStrategy’s Bitcoin holdings reach $4.68 billion, with a $206 million profit.
- MicroStrategy profits are achieved thanks to Bitcoin’s surge to nearly $31,000.
- Saylor steps down as CEO, and MicroStrategy considers a $750 million share sale to boost Bitcoin holdings.
As of September 24, 2023, MicroStrategy, a Virginia-based software firm, has increased its Bitcoin holdings to approximately 15,8245 bitcoins, with a total investment of about $4.68 billion, at an average holding price of $29,582 per Bitcoin.
MicroStrategy Profits Reached More Than $200 Million
With the current Bitcoin price at $30,888, MicroStrategy profits are now $206 million from its cryptocurrency investments.
The co-founder of MicroStrategy, Michael Saylor, has been reaping the benefits of the substantial Bitcoin investment. The cryptocurrency recently reached nearly $31,000, its highest value since July. MicroStrategy had previously disclosed an average purchase price of $29,582 for the $4.68 billion in Bitcoin it currently holds.
MicroStrategy initiated Bitcoin purchases in 2020 and has increased acquisitions this year, aligning with the cryptocurrency’s recovery from a challenging period marked by fluctuating rates and notable crypto failures. Following eight consecutive quarterly losses, MicroStrategy profits in the first and second quarters, with third-quarter results expected on November 1.
Michael Saylor’s Bitcoin Strategy Pays Off
According to Bloomberg, both MicroStrategy’s shares and Bitcoin have witnessed substantial growth this year, with the former surging by approximately 160% and the latter by 85%. Despite a 74% drop in MicroStrategy’s stock and a 64% decline in Bitcoin in 2022, both assets are now demonstrating robust performance.
Saylor’s strategic focus on Bitcoin led to his stepping down as CEO last year, and the company is currently considering raising up to $750 million through share sales to further enhance its Bitcoin holdings and address working capital requirements.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Other Posts
Related Posts
Latest
Crypto Advisory Council Now A White House Position Attracting Leaders
Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries
Press Release
Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries
Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024
