Former CEO Brings $4 Billion to His Company Thanks to Bitcoin - Koin Newsletter

Software company MicroStrategy is reaping the benefits of investing in Bitcoin (BTC) years ago.**

The Virginia-based company, founded by Michael Saylor, invested about $500 million in short-term government bonds in 2020. Under the leadership of Saylor, the company changed this strategy and started buying Bitcoin.

With the price of Bitcoin exceeding the $52,000 mark for the first time since 2021, the total value of Bitcoins held by MicroStrategy approached $10 billion.

MicroStrategy has a total of 190,000 Bitcoins in reserve. The company, which has an average unit cost of $31,224, paid a total of $5.93 billion for them. The company's unrealized profit rate increased to about 70%.

The Bitcoin strategy has affected MicroStrategy (MSTR) shares. Since the company's decision to invest in Bitcoin, MSTR shares have gained more than 500%.

Today, MicroStrategy still holds more BTC than the BlackRock fund, which is the largest spot Bitcoin ETF after the Grayscale Bitcoin Trust (GBTC).

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)