MicroStrategy’s position in BTC overcame the break-even level after the asset grew above $30 000

The company’s average purchase price of 140 000 coins was $29 803

11.04.2023 - 14:20

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What’s new? The first cryptocurrency’s rise above $30 000 on April 11 has caused the bitcoin position of analytics software developer MicroStrategy to rise above the break-even point. As previously reported by Michael Saylor, chairman of the board, the company owns 140 000 BTC, bought for ~$4,17 billion at an average price of $29 803 per coin. According to Bitcoin Treasuries, the current value of the position exceeded $4,23 billion. As of 14:10 UTC, bitcoin is trading at $30 217, having gained 6,99% in 24 hours, according to Binance.

Bitcoin Treasuries’ data

What is going on with MicroStrategy? The company has been in the red on bitcoins since June 2022. Back then, its unrealized losses exceeded $1 billion as a result of the asset’s collapse below $22 500.

Despite the economic turmoil, MicroStrategy continued to invest in the first cryptocurrency. Thus, between February 16 and March 23, 2023, the company added 6455 BTC worth about $150 million, and between March 23 and April 4, it added 1045 coins worth $23,9 million.

Bitcoin’s rise above $30 000 triggers $145 million in liquidations

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Meanwhile, in Q4 last year, MicroStrategy sold part of BTC for the first time in its history (704 coins worth $900 000), at the same time it reported a loss of $249,7 million related to the asset’s depreciation.

MicroStrategy shares under the ticker MSTR are trading at $322,63 (+6,35%) on the US Nasdaq stock exchange, according to Investing.com.

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