MicroStrategy’s Bitcoin Plan Has Been Nothing But Lucrative – Here’s How Much They Generated

As the price of Bitcoin surges, MicroStrategy’s massive bet on the cryptocurrency continues to pay off in spades according to Lookonchain.

The business intelligence firm, led by vocal Bitcoin bull Michael Saylor, holds an astonishing 158,245 bitcoins worth over $5.4 billion as of today. With Bitcoin trading above $34,000, MicroStrategy’s holdings have generated paper profits of approximately $746 million, according to blockchain data analytics firm Lookonchain.

MicroStrategy began buying Bitcoin in August 2020 and has continually added to its stockpile since then, spending a total of $4.7 billion to acquire its current stash. While the company initially took on debt to fund its Bitcoin buying spree, it has more recently relied on issuing new shares.

Between May and September of this year, MicroStrategy scooped up 28,560 more bitcoins for $734 million, lowering its average cost per bitcoin to around $29,582. This judicious move has put the company firmly in the green, even as Bitcoin remains far below its all-time high of $69,000 in November 2021.

With Bitcoin’s price rocketing higher amid growing institutional adoption, MicroStrategy’s big bet seems to be paying off in spectacular fashion. The company has essentially transformed its idle cash reserves into a lucrative Bitcoin treasury—one that keeps appreciating thanks to Bitcoin’s deflationary properties.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.