#MicroStrategy News update :
MicroStrategy, a business intelligence software company, has finally broken even on its investment of 140,000 #bitcoin . The company bought the Bitcoin at an average price of $29,803 per coin, meaning that it needed the price of Bitcoin to reach $29,803 to break even.
The price of Bitcoin reached $29,803 today, June 21, 2023, at around 11:00am EST. This means that MicroStrategy is now no longer underwater on its Bitcoin investment.
MicroStrategy's CEO, #MichaelSaylor , has been a vocal advocate for Bitcoin. He has said that he believes Bitcoin is a "hard asset" that is immune to inflation. He has also said that he believes Bitcoin is the future of money.
Saylor's bet on Bitcoin has paid off handsomely so far. The company has made a profit of over $1 billion on its Bitcoin investment.
However, it is important to note that the price of Bitcoin is volatile. It is possible that the price of Bitcoin could fall below $29,803 in the future. If that happens, MicroStrategy would once again be underwater on its Bitcoin investment.
Overall, MicroStrategy's breakeven on its Bitcoin investment is a positive sign for the company. It shows that Saylor's bet on Bitcoin has been a successful one so far. However, it is important to remember that the price of Bitcoin is volatile, and it is possible that the company could lose money on its Bitcoin investment in the future.
