Insight into MicroStrategy’s BTC investment shows profit of over $117m

MicroStrategy, the business intelligence firm known for its strategic investments in bitcoin (BTC), continues to make waves in the market. Recently, the company made headlines again by acquiring an additional 12,333 BTC, further bolstering its already impressive holdings. 

Recently reported by crypto.news, this move raises the question: is MicroStrategy reaping the rewards and making a profit from its bitcoin investment?

To shed light on this matter, JA Maartun, a community manager and verified author at CryptoQuant, provided clear insights into MicroStrategy’s current bitcoin holdings. CryptoQuant highlighted the report in a recent tweet.

According to Maartun’s dashboard, MicroStrategy currently holds a substantial 152,333 BTC in its treasury. The firm acquired these BTC tokens over time at an average purchase price of $29,668 per coin, costing approximately $4.52 billion.

Regarding profitability, the latest update shows that the value of the purchased bitcoin is approximately $4.598 billion. However, BTC’s current value of $30,446 amounts to $4.637 billion, suggesting that MicroStrategy is currently sitting on a $117 million profit.

It is worth noting that while MicroStrategy has been accumulating BTC, the company did engage in a small sell-off during the fourth quarter of 2022. Maartun’s dashboard notes that the firm sold off 704 BTC on Dec. 21, 2022. This was MicroStrategy’s only sell transaction.

MicroStrategy’s strategic approach to investing in BTC has positioned the company as a significant player in the crypto industry and highlighted the growing acceptance and adoption of crypto assets in the mainstream business world. Chairman Michael Saylor remains one of the most vocal bitcoin maximalists.

As the company continues to navigate the intricacies of the crypto market, its bitcoin holdings will undoubtedly be closely monitored by industry observers. Several bitcoin critics like Peter Schiff have ridiculed the company’s BTC strategy. 

Besides MicroStrategy, El Salvador has also continued to augment its BTC holdings. Led by bitcoin proponent president Nayib Bukele, the country purchased 80 BTC last July for $19,000 each, bringing the total balance to 2,381 BTC.