- MicroStrategy owns 190,000 BTC.
- Thanks to the recent rise in the price of bitcoin, the value of its reserves rose to $10 billion.
- The company’s unrealized profits exceeded $3.5 billion at the exchange rate of $50,000.
Technology giant MicroStrategy Inc. has $10 billion in bitcoin reserves, Bloomberg writes. The company has 190,000 BTC on its account.
The Michael Saylor-founded firm reportedly has an unrealized profit of 70% on its bitcoin investments. On February 13, 2024, with the exchange rate of the first cryptocurrency at $50,000, it was valued at $3.5 billion.
MicroStrategy previously stated that it spent a total of $5.93 billion to acquire bitcoins. In other words, 1 BTC cost the company $31,224.
Since the firm’s founder bet on acquiring the first cryptocurrency, MicroStrategy’s stock has risen more than 500%, according to TradingView. At the time of writing, the exchange rate is hovering at $768, and the company’s market capitalization exceeds $12.9 billion.
The last time the tech giant bought bitcoin was in January 2024. Then the firm purchased 850 BTC for the amount of $37.2 million.
Recall, we wrote that Michael Saylor was selling MicroStrategy shares on the eve of the launch of bitcoin-ETF.
