Microstrategy Makes $745 Million as Bitcoin Price Soars
MicroStrategy gains $745M from Bitcoin as its value soars to a 2023 high of $35,198. Michael Saylor says, 'Bitcoin is Stronger'.
MicroStrategy sees a $745 million profit from its Bitcoin investments. This profit came after a recent jump in Bitcoin's value.
Bitcoin's price shot up by 17.5% recently, reaching $35,198, its highest in 2023. This jump turned MicroStrategy's Bitcoin investment into a big win. Watcher Guru, a financial update platform, shared this news on X (the new Twitter).
MicroStrategy owns 158,245 BTC, with an average cost of $29,870 per Bitcoin. They began buying Bitcoin in August 2020 and have added 5,445 more Bitcoins this year.
Inside sources hint that MicroStrategy remains positive about Bitcoin. The company's leader, Michael Saylor, showed on X that since 2020, Bitcoin's value has increased by 147%. This growth beats other investments like the S&P 500 and Gold. Saylor stated, "Bitcoin is Stronger."
The recent rise in Bitcoin's value followed false news about a new ETF launch on October 16. In just a week, Bitcoin's value has risen about 30%. As of now, Bitcoin's price is $34,049, a bit lower than its highest this year.
(Below is a chart showing Bitcoin's Price movement in the past 1 year https://coinpaprika.com/coin/btc-bitcoin/ )
