Posted 12/4/2023, 5:11:00 PM
MicroStrategy Reaps $2B Bitcoin Profit as Holdings Surge to $7.3B
- MicroStrategy has over $2B in profit from its bitcoin purchases, with holdings now worth $7.3B
- The company began buying bitcoin in August 2020 under then-CEO Michael Saylor
- MicroStrategy has acquired over 174,000 bitcoin to date for $5.28B ($30,252 per bitcoin on average)
- Bitcoin recently hit $42k, its highest price since the 2022 crypto crash when it fell below $16k
- MicroStrategy shares traded 6% higher Monday amid bitcoin's price rally