MicroStrategy’s Bitcoin Holdings Surpass $2 Billion in Profits as Bitcoin Tops $42,000
The eye-catching Bitcoin pile of MicroStrategy has recently surpassed $2 billion in unrealized profit. As the price of bitcoin briefly surpassed $42,000, MicroStrategy’s bitcoin accumulation seems to be paying off handsomely on paper.
Bitcoin surged from a 24-hour low of $39,400 to a high of $42,108 before dropping to its current price of $41,715. This has been the highest price point for BTC in the past 19 months.
With prices eyeing a potential bull run, Bitcoin believers who have been accumulating the coin despite market conditions are in for a treat. One of the largest institutional BTC holders, MicroStrategy, saw its profit surge over $2 billion as the price briefly surpassed $42,000.
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MicroStrategy Bitcoin Holding Touches $2 Billion in Unrealized Profit
According to updated data from Saylor Tracker, MicroStrategy currently holds 174,530 Bitcoin. The business intelligence company’s Bitcoin stash was valued at $7.34 billion when Bitcoin touched $42,108.
The unrealized profit reached $2.02 billion at that time. However, with the price dipping, the unrealized profit stands at $1.97 billion, depicting a 37% surge in value.
MicroStrategy recently acquired an additional 16,130 Bitcoin for approximately $593.3 million. The purchase made in November was for an average price of $36,785 per bitcoin. That purchase alone has exhibited a 13.45% gain, pushing the PNL up by $79.7 million.
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Even though Saylor faced minor setbacks amidst the slumping market of 2022, he remained steadfast in his decision to accumulate and HODL.
With Saylor expressing no intention to sell the holdings, it makes MicroStrategy the largest corporate Bitcoin holder. Despite market ups and downs, MicroStrategy continues its bitcoin accumulation.
