MicroStrategy’s Bitcoin holdings pay off, thanks to bull run
The post MicroStrategy’s Bitcoin holdings pay off, thanks to bull run appeared on BitcoinEthereumNews.com. Last month, MicroStrategy added 5,445 BTC for $147.3 million. If the SEC approving spot BTC ETFs could trigger another rally, it could lead to another profitable turn for the firm. One of the earliest companies to invest in Bitcoin [BTC], MicroStrategy saw a turn in its fortunes as the king coin climbed north of $30K. MicroStrategy acquired Bitcoin for the first time in 2020, buying $250 million worth of tokens. Its attitude towards the king coin has continued to be bullish since then. Nearly a month ago, the business intelligence firm made a filing with the U.S. Securities and Exchange Commission (SEC). It mentioned the firm had added 5,445 BTC for $147.3 million. It had purchased these additional coins at an average price of around $27,053 per BTC. MicroStrategy’s co-founder and executive chairman Michael Saylor was also enthusiastic about the company’s Bitcoin portfolio. MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv — Michael Saylor⚡️ (@saylor) September 25, 2023 As of 24 September, the latest purchase put MicroStrategy’s Bitcoin holdings at 158,245 worth $4.68 billion—an average price of $29,582 per BTC. Since then, the king coin’s price has risen nearly 15% to $30,514 at press time. Source: BTC/USD, TradingView A quick calculation tells us that its Bitcoin holdings have put MicroStrategy in a strong position in the market. Since the firm purchased its total Bitcoin holdings at an average of $29,582 per coin, it has achieved a profit of $147 million. Can Bitcoin ETFs lead to more substantial profits? The recent Bitcoin rally has turned out to be very profitable for MicroStrategy as is evident. Saylor was quick to point…
The post MicroStrategy’s Bitcoin holdings pay off, thanks to bull run appeared on BitcoinEthereumNews.com.
Last month, MicroStrategy added 5,445 BTC for $147.3 million. If the SEC approving spot BTC ETFs could trigger another rally, it could lead to another profitable turn for the firm. One of the earliest companies to invest in Bitcoin [BTC], MicroStrategy saw a turn in its fortunes as the king coin climbed north of $30K. MicroStrategy acquired Bitcoin for the first time in 2020, buying $250 million worth of tokens. Its attitude towards the king coin has continued to be bullish since then. Nearly a month ago, the business intelligence firm made a filing with the U.S. Securities and Exchange Commission (SEC). It mentioned the firm had added 5,445 BTC for $147.3 million. It had purchased these additional coins at an average price of around $27,053 per BTC. MicroStrategy’s co-founder and executive chairman Michael Saylor was also enthusiastic about the company’s Bitcoin portfolio. MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv — Michael Saylor⚡️ (@saylor) September 25, 2023 As of 24 September, the latest purchase put MicroStrategy’s Bitcoin holdings at 158,245 worth $4.68 billion—an average price of $29,582 per BTC. Since then, the king coin’s price has risen nearly 15% to $30,514 at press time. Source: BTC/USD, TradingView A quick calculation tells us that its Bitcoin holdings have put MicroStrategy in a strong position in the market. Since the firm purchased its total Bitcoin holdings at an average of $29,582 per coin, it has achieved a profit of $147 million. Can Bitcoin ETFs lead to more substantial profits? The recent Bitcoin rally has turned out to be very profitable for MicroStrategy as is evident. Saylor was quick to point…
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