MicroStrategy, a publicly traded company that specializes in business intelligence, has turned a profit on its Bitcoin investment of $4.17 billion. The company bought 1,045 Bitcoin between March 24 and April 4, which brought its overall tally to about 140,000 Bitcoin at an average purchase price of approximately $29,803 per coin. This investment has now grown to be worth more than $4.21 billion, according to recent reports.
The recent surge in Bitcoin’s price has been a significant factor in MicroStrategy’s profitable investment. Bitcoin has reached a 10-month high, surpassing the $30,000 mark. This increase in value has also positively impacted MicroStrategy’s shares, which closed up 7.8% on the last trading day. The company’s shares have also seen a rise of 3.30% in pre-market trading.
MicroStrategy’s decision to invest in Bitcoin has been a hot topic in the crypto world for the last few years. The company has been buying Bitcoin since August 2020, and its total investment has now surpassed $4 billion. This move has been seen as a bold bet on the future of Bitcoin, which has been rapidly gaining mainstream acceptance as a legitimate asset.
The profitable turn of MicroStrategy’s investment is a clear sign of the growing value and acceptance of Bitcoin in the financial world. As the cryptocurrency market continues to evolve, it will be interesting to see how other companies follow MicroStrategy’s lead and invest in this emerging asset.