MicroStrategy's Unyielding Bitcoin Accumulation: Turning $6 Billion into $9 Billion
Introduction:
MicroStrategy, the prominent business intelligence software giant, has made waves in the cryptocurrency world with its unwavering Bitcoin accumulation strategy. Over the past three and a half years, the company has continuously increased its cryptocurrency holdings, with a remarkable total of 190,000 BTC valued at over $9 billion. Let's delve into their incredible journey and the impressive profits they have gained.
Steely Determination:
Despite the ups and downs of the market, MicroStrategy remained resolute in its Bitcoin acquisition plan. The company made its first major Bitcoin purchase in August 2020 and has relentlessly continued to buy more, regardless of market conditions or price fluctuations. This persistence has yielded astounding results.
A Lucrative Investment:
Although MicroStrategy faced setbacks during the late 2022 and early 2023 market crash, their Bitcoin stash grew exponentially. With an average entry price of $31,464, the company spent just under $6 billion to amass its colossal Bitcoin portfolio. As the current price of Bitcoin sits above $47,300, MicroStrategy's holdings have surged in value to over $9 billion, an incredible 50% increase.
Stock Soars:
MicroStrategy's foray into the world of Bitcoin has not only boosted their cryptocurrency holdings but also propelled their stock (MSTR) to new heights. Starting at around $125 in early August 2020, the stock skyrocketed to breach the $1,000 mark within six months. Despite retracements from its all-time high, MSTR closed the latest trading session at an impressive $646, marking an extraordinary 400% surge since embracing their Bitcoin-centric strategy.
Firm in Faith:
MicroStrategy's CEO, Michael Saylor, has unequivocally reiterated the company's conviction in holding on to their Bitcoin reserves. With no intentions to sell, MicroStrategy's unrealized profits remain intact, with the potential for ongoing growth.
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