According to COINOTAG, Bitcoin’s recent surge past the $70,000 mark, currently quoted around $70,092, has significantly enhanced MicroStrategy’s financial standing in the cryptocurrency market. As of September 19, 2024, the company boasts a substantial reserve of 252,220 Bitcoins, which reflects a remarkable floating profit of approximately $7.774 billion against its initial purchase cost. MicroStrategy’s aggregate expenditure for these holdings is around $9.9 billion, translating to an average acquisition cost of about $39,266 per Bitcoin. This strategic investment strategy not only underscores the company’s commitment to digital assets but also positions it favorably amid the evolving landscape of cryptocurrency. As the market continues to fluctuate, such substantial holdings offer MicroStrategy a competitive edge, potentially enhancing its portfolio performance.
Source: https://en.coinotag.com/breakingnews/microstrategys-bitcoin-holdings-surge-profit-soars-to-7-774-billion-as-btc-hits-70092/