MicroStrategy Profits Rp63 Trillion from Bitcoin Accumulation

Source: Photo by Kanchanara on Unsplash

With the price of Bitcoin trading at US$52,200 as of the writing of this article (16/2/24), MicroStrategy has recorded a floating profit of US$4 billion or around Rp63 trillion.

According to Michael Saylor's post on the X platform, MicroStrategy last accumulated 850 BTC on February 6, 2024, bringing the total ownership of Bitcoin to 190,000 BTC. Overall, the company has utilized a capital of US$5.93 billion, with an average price of around US$31,220 per BTC.
MicroStrategy began acquiring Bitcoin in the second quarter of 2020 and has been accumulating every quarter since then. In December 2023, the company had a profit of nearly US$2 billion.

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Thanks to the increase in the price of Bitcoin since December 2023, reaching US$52,200 (16/2/24), the cumulative value of the company's Bitcoin holdings has approached US$10 billion. Thus, unrealized profits amount to US$4 billion or around Rp63 trillion.

Michael Saylor argues that, "The listing of Bitcoin spot ETFs drives up prices as it has created a significant imbalance in the supply-demand dynamics of Bitcoin."

This is evident from the collective holdings of Bitcoin spot ETF issuers, which have cumulatively acquired around 210,000 BTC, 1% of the total Bitcoin supply, indicating increased demand with limited Bitcoin supply.

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