Posted 11/10/2023, 9:50:00 AM
MicroStrategy's Massive Bitcoin Bet Pays Off with $1B+ in Unrealized Gains
- Michael Saylor's MicroStrategy holds over $5.7 billion in bitcoin, with unrealized gains over $1.1 billion
- The company has acquired over 158,000 bitcoins over 3 years by investing funds and bond proceeds
- Bitcoin holdings equal over 80% of MicroStrategy's $7.1 billion market cap
- MicroStrategy paid a cumulative $4.6 billion for its bitcoin, over 10x more than any other company
- Most recent purchase was 5,445 bitcoins for $150 million in September 2022
- Bitcoin price surge follows optimism that SEC may approve bitcoin ETFs, prompting more investment