American software company MicroStrategy, the largest owner of bitcoin (BTC), is now in profit from its bet on the cryptocurrency.
In its April 5 filing with the SEC, MicroStrategy He said that between March 24 and April 4, the company and its affiliates purchased about 1,045 bitcoins for approximately $29.3 million.
This brought MicroStrategy’s total balance to around 140,000 bitcoins acquired With a total purchase price of approximately $4.17 billion and an average purchase price of approximately $29,803 per coin.
Bitcoin reached $30,000, reaching a 10-month high
With the leading cryptocurrency up 6.2% over the past 24 hours, and now trading at $30,108, that means MicroStrategy’s Bitcoin holdings are now worth over $4.2 billion.
MicroStrategy did not immediately respond to DecodeComment request.
Bitcoin betting from MicroStrategy
MicroStrategy made headlines in 2020 when the company was just getting started He bought $250 million worth of bitcoin As part of its treasury reserve strategy. Since then, the company has continued to add to its holdings.
The move was initially met with skepticism, with many experts in the financial industry unsure of Bitcoin’s long-term viability as a store of value.
MicroStrategy CEO Michael Saylor has become an outspoken advocate of Bitcoin, arguing that it has the potential to outperform traditional asset classes like gold and stocks.
MicroStrategy is making a major investment of $250 million in Bitcoin
Saylor reiterated that MicroStrategy has no intention of selling its Bitcoin holdings in the foreseeable future, except for one instance at the end of last year when the company was She sold part of her holdings Only for the purpose of securing “tax benefits”.
MicroStrategy’s investment in Bitcoin has also been an important driver of its recent share price performance.
On Monday, shares of the company (NASDAQ:MSTR) closed at $312.78, posting a 7.82% increase over the day. Notably, the stock has seen a significant growth of 40% in the past month.
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