Key Points:
- MicroStrategy, led by Michael Saylor, bought $155 million worth of Bitcoin, bringing their total holdings to 193,000 BTC.
- With Bitcoin prices soaring, MicroStrategy Bitcoin investment now exceeds $10.87 billion, marking unrealized profits of $4.7 billion and a yield of over 75% this year.
- Saylor reiterated MicroStrategy’s commitment to Bitcoin as an inflation hedge.
Bitcoin advocate and former MicroStrategy CEO Michael Saylor has revealed yet another significant Bitcoin acquisition this week.
MicroStrategy Bitcoin Investment Surpasses $10.79 Billion Amid Record Highs
Saylor, known for his bullish stance on cryptocurrency, disclosed the purchase of 3,000 BTC valued at $155 million, boosting MicroStrategy’s already substantial holdings.
At current market rates averaging around $55,840 per Bitcoin, MicroStrategy Bitcoin investment now boasts a staggering valuation surpassing $10.87 billion. This reflects an impressive $4.7 billion in unrealized profits, showcasing a remarkable yield of over 75% year-to-date since the company’s initial investment in 2020 under Saylor’s leadership.
The MicroStrategy Bitcoin investment was executed with an average entry price of $51,813, as announced by Saylor via X. This latest purchase further solidifies MicroStrategy’s position in the cryptocurrency market, with their holdings now totaling approximately 193,000 Bitcoin.
Read more: Bitcoin Price Prediction For 2024, 2025, 2026 and 2030: Super Crypto Bull Run
Michael Saylor Reaffirms Long-Term Commitment to Bitcoin Strategy
Saylor, who initiated MicroStrategy Bitcoin investment strategy in 2020 as a hedge against inflation and an alternative to cash reserves, reiterated his long-term commitment to the cryptocurrency.
In a recent interview on Bloomberg TV, he emphasized the company’s intention to hold onto its Bitcoin, stating, “there’s no reason to sell the winner.” Since Saylor’s initial foray into Bitcoin, the digital currency has surged over 450%, underlining the success of MicroStrategy‘s bold investment strategy.
The Tysons Corner, Virginia-based company’s recent purchases were made between February 15 and February 25, as disclosed in a filing with the US Securities and Exchange Commission on Monday. With MicroStrategy’s steadfast accumulation of Bitcoin, the company continues to position itself at the forefront of the evolving digital asset landscape, capitalizing on the cryptocurrency’s exponential growth.
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