MicroStrategy has become one of the biggest winners of bitcoin's recent bull run, with the analytics provider making billions in profits after ignoring naysayers to make a long-term bet on bitcoin.
MicroStrategy's Massive bitcoin Bets Hit Gold
Leading provider of mobility and business analytics software, Microstrategy is taking advantage of the first wave of the expected bitcoin bull run. The analytics provider has seen profits from its billion-dollar btc bet rise to $2 billion following bitcoin's rise from below $38,000 over the weekend to bitcoin-price-back-above-39k/” rel=”nofollow”>over $41,000 this week.
According to Simply bitcoin, a x (formerly Twitter), Michael Saylor, former CEO and Executive Chairman of MicroStrategy, has disclosed approximately 174,530 btc in the company's account. btc wallet. This makes the business intelligence company currently the largest company btc-updates-sans-impairment-losses/” rel=”nofollow”>bitcoin holder globally.
In late November, Saylor announced that the company had bought another $593.3 million worth of bitcoin at an average price of $36,785 per btc. As bitcoin soared to highs of $41,000 this week, the company has made profits of $11,460 per bitcoin with an average price of $30,252 on its huge bitcoin stash..
Not only has the company gained enormously from its large-scale investment in bitcoin, but MicroStrategy Stock (MSTR) rose 8.2% after its purchase in November. MSTR The stock was trading more than 4% higher on Monday and its current market capitalization reached $8.18 billion. Shares are up 6.74% at the time of writing and with bitcoin-sentiment-verge-extreme-greed-what-it-means/” rel=”nofollow”>bitcoin continues to maintain its positive sentiment. there may be additional earnings in the future.
<img decoding="async" class="aligncenter" src="https://technicalterrence.com/wp-content/uploads/2023/12/BlackRock-Has-Actually-Seeded-Its-Bitcoin-Spot-ETF-What-This" alt="bitcoin Price Chart from Tradingview.com (MicroStrategy)” width=”2650″ height=”1530″ loading=”lazy”/>
btc bulls maintain control on price | Source: BTCUSD on Tradingview.com
bitcoin claims 10th place in global asset market capitalization
Following your increase to $41,000bitcoin's ranking among the top assets by global market capitalization increased significantly, surpassing the formidable Berkshire Hathaway, an American multinational conglomerate, led by billionaire investor Warren Buffet.
According Market capitalization data of companies, Berkshire Hathaway's market capitalization at the time of writing is approximately $776.75 billion and down 0.11%. Unlike, bitcoin market capitalization has risen 0.43% and has risen to $816.3 billion.
The cryptocurrency is a few billion away from surpassing Meta Platforms (Facebook), which has a market capitalization of $822.40 billion and occupies the ninth position on the list of major asset market capitalization.
bitcoin It currently ranks as the tenth most important asset by market capitalization in the world. The cryptocurrency has seen its price rise caused by a multitude of factors, including the possible approval of bitcoin-etf-the-excitement-and-regulatory-hurdles/” rel=”nofollow”>bitcoin Spot ETFthe feeling of hope around the Federal Reserve's rate hikes in the United States and the upcoming bitcoin will halve in 2024.
Featured image from CryptoBriefing, chart from Tradingview.com
