Bitcoin, currently valued at $46,925, has generated over $800 million in 2024 for the American software technology firm, MicroStrategy. The company, a pioneering corporate investor, has made almost nine figures on Bitcoin this year, according to data from Bitcoin Treasuries.
MicroStrategy, the owner of the world’s largest corporate Bitcoin treasury, is particularly enjoying the ongoing Bitcoin price renaissance. The company’s Bitcoin stash, last topped up on December 27, 2023, now totals 189,150 BTC. As of January 9, this is worth approximately $8.832 billion, $840 million more than on January 1. These impressive year-to-date gains are just one of many examples of MicroStrategy’s Bitcoin comeback.
On January 8 alone, when Bitcoin saw a $3,000 daily candle, the firm netted most of its 2024 returns, around $600 million. When MicroStrategy first purchased Bitcoin in August 2020, the cryptocurrency was trading at just over $10,000. After its latest acquisition of 14,620 BTC, its cost basis became $31,168 per coin.
MicroStrategy CEO Michael Saylor is also enjoying a successful investment, personally owning more than 17,000 BTC. If Bitcoin continues to climb, Saylor could soon enter the world’s rich list, but he still needs a Bitcoin price of over $1 million to beat the current leader, Elon Musk.
Despite the bullish Bitcoin price, MicroStrategy stock has seen a curious contrast. The price of the stock has fallen by more than 15% year-to-date. Last week, Saylor sold $216 million of his company options, revealing plans to use the liquidity to further boost his own Bitcoin exposure. As the new year began, he uploaded MicroStrategy returns relative to stocks, gold, and Bitcoin itself to X (formerly Twitter), revealing that the former had outperformed. “This year Bitcoin empowered MicroStrategy,” he summarized.
It’s important to note that every investment and trading move involves risk, and individuals should conduct their own research when making a decision.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Michael Saylor, Elon Musk |
| Companies | Cointelegraph Markets Pro, TradingView, MicroStrategy, X, Bitcoin Treasuries |
| Currencies | Bitcoin |
| Securities | MSTR |
