Michael Saylor and MicroStrategy See Massive Returns on Bitcoin Investment, Crossing $1.1B Mark
The price of Bitcoin has risen substantially in recent weeks, pushing the value of MicroStrategy’s Bitcoin holdings above $5.8 billion. The rally has resulted in over $1.2 billion in unrealized profit for the company and its CEO Michael Saylor.
MicroStrategy is a business software firm that has made massive investments in Bitcoin over the past few years. According to recent data from Bitcoin Treasuries, the company holds more than 158,000 Bitcoins acquired at a cumulative cost of $4.6 billion. With the price of Bitcoin crossing $37,000 this week, the value of these holdings now stands at approximately $5.88 billion.
This means the company has made an unrealized profit of over $1.2 billion on its Bitcoin investment. Unrealized profit refers to gains on investments that have yet to be sold or withdrawn. As the value of MicroStrategy’s Bitcoin holdings continues to rise, so does their unrealized profit.
MicroStrategy’s Bitcoin position is more than 10 times larger than any other public company. The next biggest institutional holder, Marathon Digital, has 13,726 Bitcoins worth approximately $500 million at current prices, highlighting the scale and success of MicroStrategy and Michael Saylor’s Bitcoin bet.
In September, ahead of Bitcoin’s latest surge, MicroStrategy purchased an additional 5,445 Bitcoins for $150 million, at an average price of $27,053 per Bitcoin. The purchase allowed the firm to capitalize on lower prices and increase its holdings before the recent upward price movement.
#Bitcoin is Coming. pic.twitter.com/5oE42SQvgC
— Michael Saylor⚡️ (@saylor) November 9, 2023
MicroStrategy’s Executive Chairman Michael Saylor has been one of the most vocal proponents of Bitcoin among prominent business leaders. He has
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