140,000 Bitcoins from MicroStrategy are back in the green after an increase

The American software company MicroStrategy, which made the bitcoin news in 2020 by being the first company to invest $250 million in bitcoin, has since only expanded its position. To date, the company has purchased approximately 140,000 bitcoins for a total price of approximately $4.17 billion, at an average purchase price of $29,803 per BTC. After a long time, the company is now finally profitable again with this position.

MicroStrategy and its bitcoins

The American software company MicroStrategy, the company that owns the most bitcoin of all publicly traded companies, is now on a profit with its bitcoin position. In his filing to the Securities and Exchange Commission (SEC) on April 5, MicroStrategy said the company and its subsidiaries purchased approximately 1,045 bitcoin for approximately $29.3 million in the period between March 24 and April 4. This brought MicroStrategy’s total to approximately 140,000 bitcoins purchased for a total purchase price of approximately $4.17 billion and an average purchase price of approximately $29,803 per coin.

MicroStrategy made headlines in 2020 when the company first bought $250 million worth of bitcoin as part of its treasury strategy. Since then, the company has continued to expand its holdings. The move was initially greeted with skepticism as many financial industry experts questioned Bitcoin’s viability as a long-term store of value.

Saylor continues to say that MicroStrategy has no plans to sell its bitcoin holdings in the foreseeable future, except for one instance late last year when the company sold some of its bitcoins solely to gain “tax breaks.”

MicroStrategy now on profit

After a long time of investing and investing, MicroStrategy is now back to profit with its bitcoin position. With an average purchase price of nearly $30,000 per coin, and the bitcoin price currently hovering above $30,000, MicroStrategy has averaged a profit on every purchase.

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It is a positive signal for Bitcoin, as it proves in a sense that Bitcoin can be seen as an option for businesses to store long-term value. It is possible that other companies will follow suit. In any case, it is a development that we will keep an eye on in the near future.

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