MicroStrategy Nears $3 Billion in Bitcoin Profit As BTC Hovers Around $47,000
The massive Bitcoin pile of MicroStrategy is on the verge of clinching an unrealized profit of $3 billion as the cryptocurrency briefly surpassed $47,000. The data, as per the Saylor Tracker, reveals an unrealized profit of $2,928,147,368.20 at press time.
Bitcoin experienced a surge from a 24-hour low of $46,291.51 to a high of $47,193.19, subsequently settling at its current price of $46,869.03. This peak marks the highest price point for Bitcoin in the past 19 months, setting the stage for a potential bullish run.
Key numbers:
- Unrealized BTC profit nears $3 billion as of January.
- Total holdings purchased for $5.9 billion at $31,409 average price
- The recent $616 million buy itself is up $69 million.
Read more: U.S. DEA Probes Online Opioid Market’s $450M Crypto Flows
Amidst the euphoria of Bitcoin’s ascent, MicroStrategy, one of the largest institutional holders of the cryptocurrency, is reaping the rewards of its strategic accumulation.
The company made headlines with the announcement of its acquisition of over 14,620 Bitcoin on December 26th, an investment totaling $615.7 million. This move exemplifies MicroStrategy’s commitment to utilizing Bitcoin as a Treasury reserve asset, serving as a hedge against inflation.
MicroStrategy Holds 189,150 Bitcoin
The journey began in August 2020, when MicroStrategy initiated its Bitcoin accumulation spree at a price of around $10,419. Unfazed by market conditions, the company continued to capitalize on pullbacks. The company has amassed a total of 189,150 Bitcoin through 33 individual purchases over the span of more than three years.
Read more: Polygon And Fox Introduce ‘Verify’ For Media Authentication
According to the latest data from Saylor Tracker, the current valuation of MicroStrategy’s Bitcoin portfolio stands at an impressive $8.87 billion. The holdings have witnessed a meteoric rise, boasting an unrealized profit of 49.29%, equivalent to over $2.92 billion at the time of this report. Interestingly, MicroStrategy’s last single purchase alone sits at an unrealized profit of $68.9 million.
