Bloomberg: MicroStrategy has increased bitcoin reserves to $10 billion
The company’s unrealized profits exceeded $3,5 billion at a $50 000 exchange rate
16.02.2024 - 11:15
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What’s new? According to information provided by Bloomberg, MicroStrategy (MSTR), an analytics software company known for its significant investments in bitcoin, now has a $10 billion reserve of the cryptocurrency. According to the report, the firm has 190 000 BTC in its account.
What else is known? Founder Michael Saylor reported an unrealized gain of 70% of MicroStrategy’s investment in bitcoin. Thus, as of February 13, at a BTC exchange rate of $50 000, the value of the investment was estimated at $3,5 billion.
Michael Saylor: the demand for BTC products is 10 times greater than supply
According to him, the reason for the surge in capital growth in this asset class was the surge in demand for BTC and the launch of spot crypto funds
In early December 2023, analysts at S3 Partners reported that “paper” losses of short position holders in shares of crypto firms such as MicroStrategy have exceeded $6 billion since the beginning of the year.
In late December, analysts at the Santiment platform noted that MicroStrategy’s next bitcoin purchase “caused some euphoric waves among traders” and led to a bull market move that saw the asset’s exchange rate momentarily rise to $44 700. Previously, news of the company’s bitcoin investments had repeatedly triggered spikes in the asset.
Since last October, MicroStrategy has purchased 31 755 bitcoins at a rate of $39 411 for a total of $1,25 billion.
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