{"id":32303,"date":"2023-11-10T18:52:36","date_gmt":"2023-11-10T22:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32303"},"modified":"2023-11-10T18:52:36","modified_gmt":"2023-11-10T22:52:36","slug":"microstrategys-4-6-billion-bitcoin-bet-pays-off-heres-how-much-its-worth-now","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/10\/microstrategys-4-6-billion-bitcoin-bet-pays-off-heres-how-much-its-worth-now\/","title":{"rendered":"MicroStrategy\u2019s $4.6 Billion Bitcoin Bet Pays Off, Here\u2019s How Much It\u2019s Worth Now"},"content":{"rendered":"

The cryptocurrency industry has experienced significant growth<\/a> in recent weeks with an influx of capital. This influx of capital has forced Bitcoin over various price resistances<\/a>, with the latest being a brief cross over the $37,000 level. MicroStrategy has emerged as a prominent public company that has successfully capitalized on this price push.<\/p>\n

MicroStrategy\u2019s blockbuster bet on the world\u2019s largest cryptocurrency has certainly paid off so far.<\/a> The company has posted over $1 billion in unrealized profit thanks to Bitcoin\u2019s 36% increase from $26,750 since October 13. Shares of MicroStrategy have also risen simultaneously, soaring more than 55% since the same time period.<\/p>\n

MicroStrategy\u2019s Bold Bitcoin Bet Paying Off<\/h2>\n

MicroStrategy started buying in Bitcoin in 2020 but the latest acquisition came in October<\/a>, amidst the influx of money into Bitcoin, where the company announced it had acquired an additional 155 BTC for $5.3 million.\u00a0<\/p>\n

MicroStrategy now owns a total of 158,245 BTC, acquired at an average total value of $4.68 billion. At BTC\u2019s current price of around $36,500, MicroStrategy\u2019s BTC investment is now worth over $5.77 billion, representing an unrealized 26% return of $1.1 billion in around three years.<\/p>\n

The company\u2019s investment in Bitcoin has also paid off on the back end of its stock price, as it has outperformed many stocks and assets since the adoption of its Bitcoin strategy<\/a>. The share price has shot up 242% from its open price of $145 at the beginning of the year.\u00a0<\/p>\n

At the time of writing, MicroStrategy share is trading at $497, and Michael Saylor noted that this growth has been largely in part to its innovative Bitcoin strategy.<\/p>\n\n

BTC Putting Microstrategy On The Map<\/h2>\n

MicroStrategy\u2019s Michael Saylor has been an outspoken proponent of Bitcoin<\/a>. Saylor\u2019s belief in Bitcoin spearheaded MicroStrategy\u2019s investment in the asset, and a cursory look through his social media page on X shows various posts promoting Bitcoin.\u00a0<\/p>\n

#Bitcoin<\/a> is Coming. pic.twitter.com\/5oE42SQvgC<\/a><\/p>\n

\u2014 Michael Saylor (@saylor) November 9, 2023<\/a><\/p>\n

Saylor recently stated, in an interview with Fox Business<\/a>, that MicroStrategy\u2019s BTC investments were part of a well-planned strategy to rival tech giants like Google, Microsoft, and Apple.\u00a0<\/p>\n

\u201cWhat we did in August of 2020 was recognize that there\u2019s no way we\u2019re going to outgrow Google and Microsoft and Apple Computer as a mid-sized software company. We realized Bitcoin is like a high-tech dominant digital network growing at 40% or 50% a year, and so we bought it,\u201d he said in the interview.<\/p>\n

Saylor also expects the demand for BTC to double<\/a> in the next 12 months amidst its next halving and the approvals of spot Bitcoin ETFs<\/a> in the US. Ultimately, he believes that the price of BTC will eventually reach $5 million.\u00a0<\/p>\n

MicroStrategy isn\u2019t the only company with Bitcoin on its balance sheet. Public companies now own a total of 239,494 BTC, representing 1.23% of the total supply. Marathon Digital, Galaxy Digital, and Tesla are a few of these companies, holding 13,286, 12,545, and 10,500 BTC, respectively.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The cryptocurrency industry has experienced significant growth<\/a> in recent weeks with an influx of capital. This influx of capital has forced Bitcoin over various price resistances<\/a>, with the latest being a brief cross over the $37,000 level. MicroStrategy has emerged as a prominent public company that has successfully capitalized on this price push.<\/p>\n

MicroStrategy\u2019s blockbuster bet on the world\u2019s largest cryptocurrency has certainly paid off so far.<\/a> The company has posted over $1 billion in unrealized profit thanks to Bitcoin\u2019s 36% increase from $26,750 since October 13. Shares of MicroStrategy have also risen simultaneously, soaring more than 55% since the same time period.<\/p>\n

MicroStrategy\u2019s Bold Bitcoin Bet Paying Off<\/h2>\n

MicroStrategy started buying in Bitcoin in 2020 but the latest acquisition came in October<\/a>, amidst the influx of money into Bitcoin, where the company announced it had acquired an additional 155 BTC for $5.3 million.\u00a0<\/p>\n

MicroStrategy now owns a total of 158,245 BTC, acquired at an average total value of $4.68 billion. At BTC\u2019s current price of around $36,500, MicroStrategy\u2019s BTC investment is now worth over $5.77 billion, representing an unrealized 26% return of $1.1 billion in around three years.<\/p>\n

The company\u2019s investment in Bitcoin has also paid off on the back end of its stock price, as it has outperformed many stocks and assets since the adoption of its Bitcoin strategy<\/a>. The share price has shot up 242% from its open price of $145 at the beginning of the year.\u00a0<\/p>\n

At the time of writing, MicroStrategy share is trading at $497, and Michael Saylor noted that this growth has been largely in part to its innovative Bitcoin strategy.<\/p>\n

BTC Putting Microstrategy On The Map<\/h2>\n

MicroStrategy\u2019s Michael Saylor has been an outspoken proponent of Bitcoin<\/a>. Saylor\u2019s belief in Bitcoin spearheaded MicroStrategy\u2019s investment in the asset, and a cursory look through his social media page on X shows various posts promoting Bitcoin.\u00a0<\/p>\n

#Bitcoin<\/a> is Coming. pic.twitter.com\/5oE42SQvgC<\/a><\/p>\n

\u2014 Michael Saylor (@saylor) November 9, 2023<\/a><\/p>\n

Saylor recently stated, in an interview with Fox Business<\/a>, that MicroStrategy\u2019s BTC investments were part of a well-planned strategy to rival tech giants like Google, Microsoft, and Apple.\u00a0<\/p>\n

\u201cWhat we did in August of 2020 was recognize that there\u2019s no way we\u2019re going to outgrow Google and Microsoft and Apple Computer as a mid-sized software company. We realized Bitcoin is like a high-tech dominant digital network growing at 40% or 50% a year, and so we bought it,\u201d he said in the interview.<\/p>\n

Saylor also expects the demand for BTC to double<\/a> in the next 12 months amidst its next halving and the approvals of spot Bitcoin ETFs<\/a> in the US. Ultimately, he believes that the price of BTC will eventually reach $5 million.\u00a0<\/p>\n

MicroStrategy isn\u2019t the only company with Bitcoin on its balance sheet. Public companies now own a total of 239,494 BTC, representing 1.23% of the total supply. Marathon Digital, Galaxy Digital, and Tesla are a few of these companies, holding 13,286, 12,545, and 10,500 BTC, respectively.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-32303","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=32303"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32303\/revisions"}],"predecessor-version":[{"id":32319,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32303\/revisions\/32319"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32303"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}