MicroStrategy, Led by Michael Saylor, Reap Rewards of $4.68 Billion Bitcoin Investment

MicroStrategy Adds 6,067 Bitcoins in Q3 2023

MicroStrategy, a technology company headquartered in Tysons, Virginia, led by the visionary Michael Saylor, is celebrating substantial profits from its audacious $4.68 billion investment in Bitcoin (BTC).

With a strategic and calculated approach, MicroStrategy has not only become highly profitable but also has ambitious expansion plans on the horizon.

The remarkable story begins with MicroStrategy’s initial Bitcoin investment, made at an average purchase price of $29,583 per BTC. 

As of today, with Bitcoin prices hovering around $29,925, the company is reaping the rewards, enjoying a profit of $343 per BTC. In total, MicroStrategy holds a staggering 158,245 BTC, resulting in an overall profit of $54,27 million.

Emboldened by these gains, the company has recently announced its plans to acquire even more Bitcoin. To achieve this, it intends to sell shares of company stock.

There was a significant shift in the company’s leadership last year as Micheal Saylor transitioned from being the CEO to chairman, allowing him to devote his full attention to MicroStrategy’s bitcoin strategy as executive chairman, demonstrating his fervent belief in bitcoin’s potential.

Saylor recently argued that bitcoin is superior to gold as a store of value and will transform finance through blockchain technology powering innovations like smart contracts, decentralized finance (DeFi) and even voting systems.

Also Read: Michael Saylor’s MicroStrategy Stashes 2500 More Bitcoins

Related Posts