MicroStrategy Profits on Massive Bitcoin Stash Hit $4 Billion After BTC's 21% One-Month Rise

The price of bitcoin has risen 21% in a month, boosting gains from Microstrategy's btc holdings to around $4 billion.

The largest publicly traded corporate owner of bitcoin now has a bitcoin stash worth over $9.938 billion and btc is trading at $52,307 at 7:47 am EST.

A recent investor presentation revealed that the asset management company held 190,000 btc at the end of January, purchased for $5.93 billion, or about $31,224 per btc coin.

MicroStrategy Has Been Buying btc Steadily Since Q2 2020

Microstrategy He started buying btc in the second quarter of 2020 and has steadily bought more since then. Its most recent purchase was in January of this year, when MicroStrategy bought another 850 btc valued at $37 million.

It purchased 56,650 btc in 2023 at an average price of $33,580, Chief Financial Officer Andrew Kang said in a fourth-quarter earnings call on Feb. 1.

Michael Saylor's bullish stance on bitcoin

MicroStrategy's bullish stance toward bitcoin is led by the company's CEO, Michael Saylor. On the February 6 earnings conference call, he said btc It is “the first new asset class of the modern era.” He added that the next 15 years will be a “regulated, institutional, high-growth period for bitcoin, very different from the last 15 years.”

bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin represents the digital transformation of capital. Money is moving out of the analog assets of the 20th century and into the digital economy at an increasing rate. $btc It is digital property protected and transmitted by digital energy. pic.twitter.com/yJV6IF1scF

—Michael Saylor (@saylor) February 15, 2024

He also said that the company has no intention of selling its btc in the short term. This is because Saylor expects MicroStrategy's allocation to btc to continue to bear fruit following the introduction of spot bitcoin ETFs (exchange-traded funds) in the US. He called the launch of these investment products a “catalytic moment” in the transition of btc from a medium of exchange. to a store of value.

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