MicroStrategy buys more BTC, bringing total unrealized gains to over $4 billion

MicroStrategy is a company known for its unwavering belief in Bitcoin, further solidifying its position as a major player in the cryptocurrency space.

MicroStrategy is a company known for its unwavering belief in Bitcoin, further solidifying its position as a major player in the cryptocurrency space. According to a recent filing with the U.S. government, the company added an additional 3,000 BTC over the past ten days, bringing its total holdings to a staggering 193,000.

This latest acquisition by MicroStrategy cost approximately $155.4 million, bringing their total Bitcoin investments to $6.09 billion. However, at the current price of $53,283 per Bitcoin, their Bitcoin holdings are currently worth much more at $10.28 billion.

Despite the huge profit potential, MicroStrategy co-founder and executive chairman Michael Saylor has repeatedly said the company has no intention of selling its Bitcoin in the foreseeable future. He even declared, “Bitcoin is the exit strategy.”

This latest purchase follows a sharp rally in Bitcoin, driven by the historic approval of a spot Bitcoin ETF and in anticipation of the upcoming Bitcoin halving in April. This event will significantly reduce the amount of newly created BTC, potentially pushing the price higher.

Previously, MicroStrategy purchased another 850 Bitcoins for $37.2 million in January. During a Q4 2023 earnings call, Thaler claimed that 2024 marked the “birth of Bitcoin as an institutional-grade asset class,” going so far as to call it “the first new asset class in the modern era.”