MicroStrategy's massive Bitcoin reserves surged 21% in one month as BTC made a profit of $4 billion

The bitcoin price rose by 21% in a month, pushing Microstrategy's bitcoin holding profits to about $4 billion.

As the largest publicly traded company holding Bitcoin, Microstrategy now owns more than $9.938 billion worth of Bitcoin at a price of $52,307 per coin (7:47 a.m. ET).

A recent investor presentation showed that the asset manager held 190,000 bitcoins at the end of January, purchased for $5.93 billion, or about $31,224 per bitcoin.

Microstrategy began purchasing Bitcoin in the second quarter of 2020 and has continued to increase its purchases.

In January this year, Microstrategy purchased another 850 bitcoins worth $37 million.

The company purchased 56,650 bitcoins in 2023 at an average price of $33,580, Chief Financial Officer Andrew Conger said on a quarterly earnings call in February.

Microstrategy’s bullish stance on Bitcoin is led by the company’s executive chairman, Michael Saylor. During a Feb. 6 earnings call, he said Bitcoin is “the first new asset class of the modern era.” He added that the next 15 years will be a “regulated, institutionalized, high-growth period” for Bitcoin, very different from the past 15 years.

He also said the company has no intention of selling Bitcoin at the moment. This is because Saylor expects Microstrategy's allocation to Bitcoin to continue to profit after the introduction of spot Bitcoin exchange-traded funds (ETFs) in the U.S. He called the launch of these investment products a "catalytic moment" for Bitcoin's transformation from a medium of exchange to a medium of value storage.

Related articles:
Where to Buy Presale Crypto: Unlock Exclusive Early Investment Now!
Popular GamblFi Token TGC Has a Market Cap of About $70 Million, Players Win $100K from $10 Bet
The hottest cryptocurrencies on Ethereum: Mind, Smog, TAO Inu
New Cryptocurrency Mining Platform – Bitcoin Minetrix
Rating
(picture)
(picture)
Coinsult Review
Decentralized and secure cloud mining
Get free Bitcoin every day
Native Token Presale Now Open – BTCMTX
Staking Rewards – Annualized rate of return of over 50%
(picture)
(picture)
learn more
Join our Telegram channel to get timely news reports.