MicroStrategy is famous for its Bitcoin purchases. The founder of the software company, Michael Saylor, has indeed decided to acquire bitcoins in order to protect himself from inflation. In 2020, he claimed that Bitcoin is both a reliable store of value and an attractive investment asset.
Since June 2022, MicroStrategy has been in the red on its purchases. But thanks to the crypto’s rise in price, which is currently hitting the $30,000 mark, MicroStrategy’s bitcoin holdings are in the green.
MicroStrategy bitcoin holdings
MicroStrategy is one of those companies that truly believe in the value of bitcoin. The proof, she has gradually increased her bitcoin holdings over the past two years. The latest acquisition from this software company: 1,045 additional bitcoin coins. MicroStrategy and its subsidiaries therefore currently own 140,000 bitcoin. Based on data from The Block Researchthis represents 4.17 billion dollars.
MicroStrategy’s long-term bet is about to pay off
The days when Michael Saylor’s company found itself in the red on its Bitcoin purchases will now be a thing of the past. Thanks to the latest rally in the crypto market, MicroStrategy’s bitcoin holdings are now in the green.
At the time of writing, the bitcoin is trading at $30,263.31. It is up 1.6% over the past 10 hours. Since the beginning of the year, this cryptocurrency has recorded a remarkable increase of 82%.
This bull market propelled the price of bitcoin above the average purchase price from MicroStrategy of $29,803. Which already represents a buffer of a few hundred dollars.
Despite this price increase, MicroStrategy has no interest in selling its holdings in a short period of time (especially if it is aiming for profitability). In any case, this proves that the choice of Michael Saylor was wise.
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