Saylor's Bitcoin Venture: Profits Surpass $2B Mark

• MicroStrategy Now Holds Over $2 Billion Profit from Bitcoin Investments
• Historical Acquisition of Bitcoin by MicroStrategy
• Current Profit and Value of Bitcoin Holdings
• Bitcoin Achieving Highs Not Seen Since April 2022
• Impact on MicroStrategy's Shares

MicroStrategy Now Holds Over $2 Billion Profit from Bitcoin Investments

MicroStrategy (MSTR), a prominent business intelligence firm, began this week with a substantial profit of over $2 billion on its sizable bitcoin (BTC) holdings, following the cryptocurrency's surge beyond $42,000.

Historical Acquisition of Bitcoin by MicroStrategy

In August 2020, MicroStrategy embarked on its journey of bitcoin purchasing under the leadership of Michael Saylor, who served as CEO back then and currently holds the position of Executive Chairman. The latest purchases by the company occurred just last month. As of November 30, MicroStrategy possessed 174,530 bitcoin, acquired at a total cost of $5.28 billion. This translates to an average price of $30,252 per bitcoin.

Current Profit and Value of Bitcoin Holdings

As the rate of bitcoin touched the $42,000 mark earlier this Monday, the value of MSTR's holdings escalated to nearly $7.3 billion. This indicates a profit exceeding $2 billion. However, the price underwent a slight dip to $41,700 at the time of reporting.

Bitcoin Achieving Highs Not Seen Since April 2022

This is the first time bitcoin has reached such a high since April 2022, before the collapse of the Terra ecosystem. During the bear market of 2022, bitcoin plummeted to less than $16,000, placing MicroStrategy's investment at a significant loss. Despite this, Saylor stayed committed to augmenting the company's holdings, financing the purchases with a combination of debt and equity issuance.

Impact on MicroStrategy's Shares

On Monday, MicroStrategy (MSTR) observed its shares trading approximately 6% higher.

Edited by Jonathan Stoker