The latest news is that MicroStrategy’s bitcoin (BTC) investments are more than profitable. So far the company seems not to want to withdraw these profits, although they are certain. On the contrary, it is rooted in an acquisition policy as evidenced by the recent purchase of substantial bitcoins by MicroStrategy. This, while the price of the flagship crypto continues its remarkable surge.
MicroStrategy Holds $5.3 Billion Bitcoin Profit
Over the past few years, the MicroStrategy company has accumulated hundreds of thousands of bitcoins. An investment strategy which has proven to be particularly lucrative as demonstrated by the profits that the company has not yet made.
Indeed, as far as bitcoin is concerned, MicroStrategy is now worth around $11.40 billion for an initial investment of $6.1 billion. At the very least, the firm’s bitcoin profits are of the order of 5.3 billion dollars. Stunning!
For any investor, it is tempting, in view of this more than attractive result, to think about making these profits. Michael Saylor, the boss of MicroStrategy, was very clear on this subject. There is, according to him, “no reason to sell the [actifs, Ndlr] winners and buying losers.
Which means that MicroStrategy maintains its aggressive bitcoin exposure policy. As proof, she recently bought herself an additional 3,000 bitcoins for an amount of $155.4 million. An acquisition which brings its total BTC reserves to 193,000 and which demonstrates its optimism in the flagship crypto.
What about bitcoin meanwhile?
Bitcoin is doing well, even very well it must be said. The flagship crypto is literally exploding in terms of valuation. In the space of 10 days, it has broken several key resistances, including the most recent one, at $55,000.
And it seems that bitcoin doesn’t want to go down again. Indeed, over the last 24 hours, the queen of cryptos has seen another 4.45% increase in its valuation for a weekly increase of 15.54%. It is currently worth around $59,147! An absolute record for several months.
Now, crypto industry players are asking questions about the asset’s prospects. In particular that of knowing how far would bitcoin go with such dynamism knowing that the halving is in less than two months?
With almost $60,000 in valuation, and subject to unforeseen circumstances in the crypto market, the planets seem to be aligning for a milestone of $69,000 to be exceeded. This is the highest level of valuation ever exceeded by the price of bitcoin since it existed. Even at this level, someone like Robert Kiyosaki expects the price of BTC to increase to $100,000 by June 2024. To be continued…
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