Michael Saylor’s company, MicroStrategy, has made headlines again by purchasing an additional 27,200 bitcoins for nearly $2 billion.
This move solidifies MicroStrategy’s position as the largest corporate holder of bitcoin, bringing their total to 279,420 BTC, valued at just under $23 billion as the cryptocurrency reaches record highs above $82,000.
The firm has invested a total of $11.9 billion in BTC, which means they are currently enjoying a profit of around $11 billion. This quarter alone, their bitcoin investments have yielded a return of 7.4%, and they’ve seen over 26% growth year-to-date, as reported on Monday.
The recent acquisition has already generated more than $200 million in profit, as these bitcoins were bought at an average price of $74,463 each and have since increased in value by nearly $8,000 per coin.
James Wilson
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
