MicroStrategy’s bold investment strategy pays off handsomely as Bitcoin nears $70,000, doubling the company’s profit and reaffirming its confidence in cryptocurrency. With the premier cryptocurrency showing a staggering 463% growth since August 2020, MicroStrategy’s investment in Bitcoin has proven to be highly profitable.
MicroStrategy Doubles on It’s Profits
MicroStrategy’s decision to invest millions of dollars in Bitcoin has proven to be a lucrative move. With an average purchase price of $33,706.00 per Bitcoin, the company has now doubled its profit on its significant Bitcoin reserves.
As Bitcoin’s price surpasses $70,000, MicroStrategy’s wise investment strategy is paying off handsomely, positioning the company favorably in the ever-evolving cryptocurrency market.
In contrast to traditional assets like stocks, gold, silver, and bonds, Bitcoin has emerged as the top-performing asset, showcasing unparalleled growth. While the S&P 500 and Nasdaq indices have recorded gains of 52% and 47%, respectively, Bitcoin’s growth eclipses them all with a remarkable 463% surge.
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MicroStrategy’s Bitcoin Holdings
As of now, MicroStrategy holds 214,246 bitcoins, equivalent to 1.02% of the entire Bitcoin market supply. With an average purchase price of $33,706.00 per bitcoin and a total cost of $6.91 billion, MicroStrategy’s investment in Bitcoin has positioned the company favorably in the evolving financial landscape.
The recent surge in Bitcoin’s price can also be attributed to growing institutional interest, evidenced by the influx of spot Bitcoin ETF applications from major traditional finance players like BlackRock Investments, WisdomTree, and Invesco.
Currently, Bitcoin stands at $67,285, showing a slight decline over the past 24 hours with a market cap remaining at $1.32 trillion.
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