How Bitcoin Grew MicroStrategy’s Assets Over $1.1 Billion

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• The rising price of Bitcoin (BTC) has propelled the unrealized gains of MicroStrategy, the business software company and the largest public holder of the asset, to over $1.1 billion.
• The Bitcoin holdings of the company, founded by Michael Saylor, reached $5.7 billion late Thursday with the price surpassing $37,000 for the first time since May 2022.
• Bitcoin has recently surged amid optimism that U.S. regulators will approve exchange-traded funds (ETFs) holding Bitcoin.

The recent upward rally in Bitcoin price has increased MicroStrategy company’s revenues from BTC assets: How many Bitcoin assets does the company have?

MicroStrategy Wins on Bitcoin’s Rise

The recent bullish rally in Bitcoin’s price has increased the profits of MicroStrategy, the business software company and the largest public holder of the asset, to over $1.1 billion, representing an over 25% increase in total investments.

The company’s Bitcoin holdings, often vocalized in tweets supporting the leading cryptocurrency by CEO Michael Saylor, reached $5.7 billion late Thursday as the price exceeded $37,000 for the first time since May 2022.

The company holds 158,000 Bitcoins acquired over a three-year period with revenue from corporate funds and bond sales. The current value of the assets, $5.7 billion, exceeds MicroStrategy’s market capitalization of $7.1 billion.

The total cost for these assets, according to Bitcoin Treasuries data, is $4.6 billion. This is 10 times higher than the cost of Marathon Digital, the second-largest institutional holder holding around 13,000 Bitcoins worth $500 million at current prices.

MicroStrategy’s most recent known purchases occurred in the weeks leading up to September 24, during which the company added 5,445 Bitcoins at an average price of $27,053, slightly below $150 million.

Why Did Bitcoin Price Rise?

Bitcoin has been rising lately amid optimism that U.S. regulators will approve exchange-traded funds (ETFs) holding Bitcoin, with some experts believing this move will lead to an influx of investments in the most prominent cryptocurrency.

These expectations increased following a report from COINOTAG on Wednesday, stating that the Securities and Exchange Commission (SEC) has begun discussions on the details of Grayscale Investments’ Bitcoin Trust, known as GBTC, converting into a Bitcoin ETF.