22/10/2023
Michael Saylor's substantial investment in Bitcoin is yielding substantial returns for MicroStrategy, despite the notable drop in the cryptocurrency's value throughout this year.
As of June 28, 2023, MicroStrategy had accumulated a stash of 152,000 bitcoins, acquired for a sum of $4.52 billion. Considering the current value of Bitcoin, which hovers around $29,865, the company boasts unrealized profits exceeding a significant $60 million in their assets.
These outcomes validate the long-term investment strategy that Saylor has steadfastly adhered to, showcasing resilience in the face of significant volatility. While the cryptocurrency market weathered the storm of declining prices, MicroStrategy remains resolute in their position, capitalizing on opportunities to acquire more bitcoins.
In both April and June of this year, with Bitcoin trading in the vicinity of $30,000, the company procured thousands of bitcoins. Even with a 56% decrease from its all-time highs, Bitcoin has still demonstrated substantial growth in comparison to MicroStrategy's average purchase price. In total, the company's Bitcoin portfolio has appreciated by more than $1 billion.
BTC has experienced a noteworthy increase of over 11% in the past seven days, responding to recent developments related to Ripple. The cryptocurrency surged from a 30-day low of $26,011.47 to a high of $30,000 before settling at its current valuation.
With cryptocurrency markets seemingly stabilizing in recent weeks, MicroStrategy remains steadfast in holding its assets. Instead of reducing their exposure, Saylor is evaluating strategies to secure additional capital to further acquire digital assets.
Comments