MicroStrategy generates more than $1 billion in Bitcoin profit
After a big loss phase in Bitcoin investment, American public trading business intelligence firm Microstrategy is in $1 billion profit.
Microstrategy is a popular American business intelligence firm, co-founded by Michael J. Saylor, Sanju Bansal, and Thomas Spahr in 1989. In the crypto sector, Saylor is mainly known for his Bitcoin advocacy. In 2020, Microstrategy decided to invest in Bitcoin under the leadership of Saylor. Last year, Saylor stepped down from the CEO role to give all of his time to the company’s Bitcoin-focused initiatives.
In the last month, Microstrategy purchased 155 Bitcoins for $5.3 million. At present, a company holding nearly 158,400 $BTC at an average cost price of $29,587.
In the present time, the trade price of Bitcoin is fluctuating around $37.5k which is 27% higher than Microstrategy’s average Bitcoin cost buying. So at this Bitcoin trade price, Microstrategy is in more than $1.1 billion profit which is itself a very big number over the company’s past several revenue.
These figures show that Microstrategy is in a good position to give suggestions to other corporations to choose Bitcoin as a part of their balance sheet, diversify their portfolio & simultaneously generate money without maintenance costs.
It is worth it to note that it is the Initial phase of the Bitcoin bull run and 2024 is ready to bring many factors to push the trade price of Bitcoin by several folds.
Amid this Bitcoin bull run, stock Investors are aware of the potential opportunity that they can grab. The majority of the analysts are targeting those public companies that are inclined toward crypto-related activities.
Following Microstrategy’s Bitcoin investment profit reports, the stock traders showed a significant inclination toward MSTR stock.
The current trade price of MSTR is 7.5% higher over the last 5 days of trade price.
Read also: Crypto Analyst predicts 2,000% pump target for Solana (Sol) coin
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