Business intelligence firm MicroStrategy has seen substantial returns from its multi-billion dollar Bitcoin investment, with its holdings currently valued at over $60 million more than purchase prices.
Keypoints
- MicroStrategy has invested heavily in Bitcoin, acquiring over 150,000 BTC for $4.52 billion as of June 2022. Their average purchase price is around $29,500 per BTC.
- With the recent rise in Bitcoin’s price to around $29,900, MicroStrategy is sitting on unrealized gains of over $60 million for its Bitcoin holdings.
- MicroStrategy made its initial Bitcoin purchase in 2020 and has continued acquiring more even amid volatility. CEO Michael Saylor is a Bitcoin bull and believes it is superior to gold as a store of value.
- In April and June 2022 when Bitcoin was trading near $30,000, MicroStrategy purchased thousands more coins, showing its commitment to its Bitcoin investment strategy.
- MicroStrategy’s Bitcoin…
