MicroStrategy profits another 3.1 billion USD from Bitcoin after 3 months, holding 10 billion USD

With Bitcoin price approaching $53,000, MicroStrategy is recording profits of up to $4 billion from the amount of BTC it owns.

MicroStrategy profited another 3.1 billion USD from Bitcoin after 3 months, holding 10 billion USD in BTC. Photo: Bitcoin Magazine

On the evening of February 15, when the priceBitcoinincreased to 52,862 USD and set a new peak in 2024, the amount of Bitcoin that MicroStrategy company under the leadership of its founderMichael Saylorcurrently holding has reached the value of 10 billion USD. At that price, the company has a profit of up to 4 billion USD from its investment.

Compare toearly November 2023, as the new cryptocurrency market recovered, MicroStrategy's Bitcoin investment profits increased by $3.1 billion in just over 3 months. This rapid growth is due to investors' optimism about the prospectsBitcoin spot ETF approved by the US, and when that actually happened, it was fueled by enormous buying power from Wall Street financial circles. As reported by Coin68, since mid-January, Bitcoin spot ETFs havebuy more than 4,000 BTC, overwhelming capital flows to withdraw fromGrayscale's GBTC fund.

MicroStrategy started its Bitcoin buying strategy in September 2020, when the Bitcoin price only reached 11,600 USD. In the following years, the company regularly conducted purchase transactions with a value of up to tens, sometimes hundreds of millions of dollars, regardless of whether the market was in an up or down phase.

MicroStrategy's Bitcoin purchase history statistics. Source: Saylor Tracker (February 16, 2024)

As the cryptocurrency market plummeted throughout 2022 due to consecutive crashes, the companyloss up to 45%Bitcoin investment, but still determined to collect more of this currency at a lower cost.

As a result, as of early February 2024, MicroStrategy is...owns 190,000 BTC, with an average purchase price of nearly $31,500. Thus, MicroStrategy is still the public entity holding the second most Bitcoin in the world, second only to Grayscale's GBTC fund.

Statistics on the amount of Bitcoin owned by public entities. Source: @dotkrueger on X (Twitter) (February 13, 2024)

The head of MicroStrategy is MrMichael Saylorhas since 2020 shown himself to be a dedicated believer in the potential of the world's largest cryptocurrency, regularly mentioning Bitcoin on his personal social media accounts, as well as participating in many events. Big event of the BTC community.

MicroStrategy's MSTR stock price is also growing strongly since bottoming in early 2023, but has not yet been able to return to the peak of early 2021, when the company also won big thanks to its Bitcoin investment.

1W graph of MicroStrategy's MSTR stock price. Source: TradingView (February 16, 2024)

Besides MicroStrategy, there is only one other US company listed on the stock exchangeTesla is still holding Bitcoin. According to the Q4/2023 financial report, Tesla continues to maintain an investment of more than 9,720 BTC (505 million USD) over the past 1.5 years, with no change sinceliquidation of 75% of Bitcoin portfolioin July 2022, earning 936 million USD.

Most recently, Silicon Valley's famous technology investment fund Founders Fund was reported to have returned to the cryptocurrency market with a large sum of money.Invest 200 million USD divided equally between Bitcoin and Ethereum, implemented in mid-2023.