MicroStrategy’s Bitcoin Holdings Now Worth Over $10 Billion
MicroStrategy, the largest corporate owner of Bitcoin, possesses over $10 billion worth of the cryptocurrency as of Thursday morning.
According to MicroStrategy’s Q4 2023 Financial Results presentation, published on February 6, the company has made a profit of over $4 billion on its Bitcoin holdings as the cryptocurrency continues its recent surge.
At the end of January, MicroStrategy held 190,000 bitcoins, purchased for a total of $5.93 billion, or $31,224 per coin, according to the presentation.
MicroStrategy began purchasing bitcoins in the second quarter of 2020 and has consistently added to its holdings every quarter since. By December 2023, the company had accumulated a profit of almost $2 billion. However, this figure has now doubled due to Bitcoin’s rally of over 20% since the beginning of 2024.
Bitcoin surged to $52,800 early on Thursday, elevating the value of MicroStrategy’s holdings to slightly over $10 billion. The price has since experienced a minor pullback and is currently trading at $52,072 at the time of writing.
MicroStrategy founder and chairman Michael Saylor revealed in January that the company had acquired an additional 850 bitcoins for $37.2 million.
In January, @MicroStrategy acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC. Please join us at 5pm ET as we discuss our Q4 2023 financial results and answer questions about our #bitcoin strategy and business outlook. $MSTR https://t.co/j5SbcELsue
— Michael Saylor⚡️ (@saylor) February 6, 2024
The price of bitcoin has see-sawed over the previous month as several traditional financial institutions like BlackRock and Fidelity introduced the recently approved spot Bitcoin ETFs.
Saylor recently said that the listing of spot Bitcoin ETFs
