MicroStrategy, a U.S. listed company that is a firm believer in Bitcoin, announced its third-quarter financial report on the 2nd. After purchasing 5,445 Bitcoins at an average price of $27,053 at the end of September, MicroStrategy purchased another $5.33 million in October. 155 Bitcoins were added to the position, and so far, the company holds a total of 158,400 Bitcoins. According to the financial report, as of the end of October, the average cost of each Bitcoin purchased by MicroStrategy fell to US$29,586, and the total holding cost reached US$4.69 billion (158,400 held). Although since the cryptocurrency entered a bear market in 2022, the company's Bitcoin holdings have been in a state of "significant floating losses" for a long time. However, starting from mid-October, Bitcoin has been trending strongly. On October 12, it continued to rise strongly from US$26,500. On the 2nd, it exceeded US$35,000 and once approached US$36,000. The increase in more than two weeks has reached 35%, which simultaneously makes the micro-strategy Bitcoin positions have turned from losses to profits, with current floating profits reaching approximately US$960 million. It is understood that the company has adopted a buying Bitcoin strategy since August 2020. Michael Saylor showed the price trend of "Bitcoin compared to other assets" during this period. Bitcoin rose by more than 192%, much higher than the S&P 500, the performance of large technology stocks, gold and other assets. The growth rate of each asset is as follows:
Bitcoin rises 192%
S&P 500 up 25%
Google rose 68%
Apple rose 51%
Bond par price fell 24%
Silver fell 18%
Interestingly, since 2020, although Bitcoin has significantly outperformed most assets, the micro-strategy stock price MSTR has actually outperformed Bitcoin. In the past three years or so, MSTR has increased by approximately 242%, making it one of the best-performing stocks. As the cryptocurrency market has picked up, MSTR has also risen by nearly 30% in the past month (similar to the increase of Bitcoin), with each share temporarily trading at $426.67. #BTC
Bitcoin rises 192%
S&P 500 up 25%
Google rose 68%
Apple rose 51%
Bond par price fell 24%
Silver fell 18%
Interestingly, since 2020, although Bitcoin has significantly outperformed most assets, the micro-strategy stock price MSTR has actually outperformed Bitcoin. In the past three years or so, MSTR has increased by approximately 242%, making it one of the best-performing stocks. As the cryptocurrency market has picked up, MSTR has also risen by nearly 30% in the past month (similar to the increase of Bitcoin), with each share temporarily trading at $426.67. #BTC