Bitcoin: Over $5 Billion in Profits for MicroStrategy

Latest news reports that MicroStrategy’s investments in bitcoin (BTC) are proving highly profitable. So far, the company seems to have no intention of cashing out these sure profits. On the contrary, it is doubling down on an acquisition strategy, as evidenced by MicroStrategy’s recent purchase of a substantial number of bitcoins. This, while the price of the flagship cryptocurrency continues its remarkable surge.

MicroStrategy Boasts a Bitcoin Profit of $5.3 Billion

Over the past several years, the company MicroStrategy has amassed hundreds of thousands of bitcoins. An investment strategy that has turned out to be exceptionally lucrative as the profits, which the company hasn’t yet cashed out, indicate.

In fact, in terms of bitcoin, MicroStrategy’s holdings are now worth approximately $11.40 billion from an original investment of $6.1 billion. To put it mildly, the firm’s bitcoin profits are in the vicinity of $5.3 billion. Astounding!

For any investor, it is tempting, given these more than enticing results, to think about realizing these benefits. Michael Saylor, the CEO of MicroStrategy has been very clear on this matter. According to him, there is «no reason to sell the winning [assets] and buy the losing ones».

This means that MicroStrategy is maintaining its aggressive bitcoin exposure policy. To illustrate, it has recently acquired an additional 3,000 bitcoins for a total of $155.4 million. A purchase that brings its total BTC reserves to 193,000 and demonstrates its optimism in the flagship crypto.

MicroStrategy (MSTR) Now At $4.9 Billion In Unrealized Bitcoin Profit – Yahoo Finance https://t.co/PqPXdz6dge

— The Wire (@thewire_____) February 28, 2024

And what about bitcoin in the meantime?

Bitcoin is doing well, extremely well, to be precise. The flagship cryptocurrency’s valuation is literally booming. Within just 10 days, it has broken through several key resistances, specifically the recent one at $55,000.

And it seems bitcoin does not want to come down. Indeed, over the past 24 hours, the queen of cryptos has gained an additional 4.45 % in valuation for a weekly increase of 15.54%. It is currently valued at approximately $59,147! A record high not seen for many months.

Now, crypto industry stakeholders are pondering over the future prospects of the asset. In particular, the question of how far bitcoin might go with such momentum, especially since the halving is less than two months away?

With a valuation close to $60,000, and barring unforeseen market variables, the stars seem aligned for breaking the $69,000 barrier. That’s the highest valuation level ever surpassed by bitcoin’s price to date. Even at that level, someone like Robert Kiyosaki is betting on a BTC price rise to $100,000 by June 2024. To be continued…