MicroStrategy’s Bitcoin holdings have attained immense unrealized profits following the latest BTC price surge.
MicroStrategy currently holds around 158,400 Bitcoin worth over $5.8 billion as of press time, according to data tracked by Saylor Tracker. This represents an unrealized profit of approximately $1.07 billion based on MicroStrategy’s accumulated investment costs.
The unrealized gain equals a hefty 22.67% return on the company’s aggregate BTC acquisitions to date.
Aggressive Bitcoin accumulation since 2020
MicroStrategy and CEO Michael Saylor have been aggressively buying Bitcoin since 2020, making it the largest corporate holder of the cryptocurrency.
The firm has utilized debt financing to fund its continued BTC procurement, betting BTC’s long-term appreciation will justify the interest expenses.
MicroStrategy’s last purchase came on October 31, when it bought 155 additional Bitcoin for $5.3 million. The average purchase price during that time was reported to be $34,495.00. This purchase alone has surged to $5.67 million at press time.
Riding Bitcoin’s price recovery
Bitcoin has mounted a significant recovery recently. The leading cryptocurrency briefly topped $37,500 in the last 24 hours before falling to its current price of $36,677.
Of course, the over $1 billion in paper profit remains theoretical unless MicroStrategy sells its holdings. The firm is adhering to a long-term bitcoin accumulation strategy instead.
Despite price fluctuations and ups and downs, MicroStrategy remains convinced of BTC’s upside as digital gold. Thanks to the recent surge in the price of BTC, MicroStrategy’s $4.73 billion stash stands valued at $5.8 billion.
The anticipation of a potential Bitcoin ETF approval is pushing the price of BTC higher. BTC has had the second-largest trading volume in the last 24 hours. The volume has surged by 140% to $38 billion, according to CoinMarketCap data.