The post MicroStrategy Bitcoin Investments Helps Company Reach $6.33 Billion in Profit appeared on BitcoinEthereumNews.com.

Key Points: MicroStrategy Bitcoin investment is valued at $13.79 billion, yielding a $6.33 billion profit. The company bought 11,931 Bitcoins recently, spending over $2.4 billion on Bitcoin in 2024. Chairman Michael Saylor’s 2020 Bitcoin strategy underscores corporate faith in cryptocurrency as a profitable investment and inflation hedge. MicroStrategy, a prominent business intelligence firm, has solidified its position as a major player in the cryptocurrency market with its substantial Bitcoin holdings. MicroStrategy Bitcoin Investments Showing Positive Signs The company currently holds 226,331 Bitcoins, acquired at an average price of $36,798 each. MicroStrategy Bitcoin investment, now valued at approximately $13.79 billion, reflects a significant profit of $6.33 billion, demonstrating an 80% paper gain. The firm has invested a total of $8.3 billion in Bitcoin, with recent acquisitions contributing notably to this total. Between April 27 and June 19, MicroStrategy added 11,931 Bitcoins to its portfolio, marking its third-largest purchase to date. The latest purchase follows a substantial $821 million investment on March 11, when the company acquired 12,000 Bitcoins. Corporate Confidence in Bitcoin Led by MicroStrategy’s Strategy MicroStrategy’s strategy of leveraging the debt market to fund its Bitcoin purchases has been evident this year, with the company spending over $2.4 billion on the cryptocurrency in 2024 alone. Michael Saylor, the chairman and co-founder of MicroStrategy, initiated the company’s foray into Bitcoin in 2020, viewing it as a viable alternative to holding cash. MicroStrategy Bitcoin investment has proven lucrative, positioning the company at the forefront of corporate Bitcoin investments. In related news, Semler Scientific also announced its Bitcoin treasury strategy. Eric Semler, Semler Scientific’s chairman, reiterated this stance, with the growing corporate interest in Bitcoin as a strategic financial asset. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your…

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Filed under: News - @ June 21, 2024 8:10 pm