The surge in Bitcoin’s value has successfully reinstated the faith of the crypto community in the leading digital currency. Nevertheless, this development has brought about a particularly positive outcome for one key player, Microstrategy, led by Michael Saylor. In August 2020, Saylor decided to invest in Bitcoin as a safeguard against inflation, and the IT company has since gone all-in on the cryptocurrency.
Under the leadership of Michael Saylor, a prominent Bitcoin maximalist, Microstrategy has made a bold move by acquiring a staggering 132,500 BTC with a book value of $4.03 billion. The acquisition was made at an average price of $30,397 and financed through strategic debt deals and bond offerings. This strategic move demonstrates Microstrategy’s commitment to the future of cryptocurrency and its potential to revolutionize the financial industry.
As per a recent update shared by DB Newswire, the price of Bitcoin has surged by a remarkable 44% in the past week, bringing Microstrategy’s BTC investment closer to its breakeven point of $30,137. This impressive growth has resulted in Michael Saylor’s Bitcoin holdings being valued at a staggering $3.7 billion. However, the current profit and loss (P&L) of the Bitcoin purchase stand at -$285 million, indicating a decline of -7.15%. These figures highlight the volatile nature of the cryptocurrency market and the importance of strategic investment decisions.
The surge in BTC’s value has positively impacted Microstrategy’s share price, resulting in a notable increase of over 13% since March 10th. Currently trading at $267, the stock has demonstrated a tendency to reflect the performance of the leading cryptocurrency, closely tracking its fluctuations.
The DB Newswire tweet has shed light on some critical Bitcoin investments, including the one made by El Salvador’s pro-crypto leader, Nayib Bukele. Unfortunately, the country’s BTC trade is currently operating at a loss of 38%. On the other hand, Tesla and Block have made some profitable Bitcoin moves. Tesla has realized a gain of $190 million, resulting in a profit of 14.5% on its BTC investment. Similarly, Block has made a tidy sum of $4.6 million from its BTC trade.
