Driven by CEO Michael Saylor’s interest in the digital asset, MicroStrategy’s Bitcoin investment has reached $3.5 billion in unrealized profits. Indeed, data tracking platform Saylor Tracker has shown the massive payoff of the firm’s bet on the cryptocurrency.
Saylor, a long-time advocate of the potential of Bitcoin, has now led the company in holding more than 190,000 BTC worth more than $ 9.4 billion at the current price. Moreover, the firm now reportedly holds more than 1% of the entire circulating supply of Bitcoin which is around 18.6 million.
Also Read: Michael Saylor’s MicroStrategy Bitcoin Hits $2.3B Unrealized Profit
MicroStrategy’s Bitcoin Investment Surpasses $3 Billion in Unrealized Profit
Bitcoin has long been a divisive asset in the modern financial sector. Although many had perceived it as the next evolution of currency, others scoffed at that immense potential. However, just two months into 2024 it has proved its value thus far. Subseuqnlety, one of the most vocal supporters of cryptocurrency has continued to benefit.
In a bet that has been piloted by CEO Michael Saylor, MicroStrategy’s Bitcoin Investment has now reached $3.5 billion in unrealized profits. Additionally, the business intelligence firm currently holds a remarkable 1% of the entire circulating supply of BTC. Making them one of the foremost accumulators of the most prominent digital asset.
Also Read: Michael Saylor Predicts Bitcoin’s Potential Tenfold Surge
MicroStrategy first began investing in Bitcoin four years ago. Then, the asset was beginning to gain interest from various institutional investors. Moreover, the firm made its inaugural Bitcoin purchase of $250 million worth in the summer of 2020. Since then, it has only grown its impressive holdings.
Just last week, the company announced its holdings of 190,000 BTC in its Q4 earnings report. Moreover, it stated that more than 31,000 of those acquired BTCs took place at the end of Q3. Additionally, these acquired tokens were worth more than $1.25 billion.
2024 has proven to be one of the biggest years ever for Bitcoin. With the arrival of 11 Spot Bitcoin ETFs, the asset has grown to be a viable institutional investment. Subsequently, it is on the precipice of surpassing $50,000 for the first time in two years. Many experts predict even more gains for the asset throughout the year.