MicroStrategy is almost in the plus again after a significant BTC increase

The MicroStrategy of Famous bitcoin (BTC) Michael Saylor is one of the largest BTC holders in the world. The company has many billions in the form of the king of cryptocurrencies on its balance sheet. Because of the fierce bear market however, the company was deeply in the red. However, this seems to be changing due to the recent increase in the bitcoin price. The losses on paper are almost complete brushed off.

MicroStrategy’s bitcoin fortune

As of December 31 of 2022, the company had an astronomical 132,500 bitcoins on its balance sheet. This gigantic mountain was bought for about $4 billion. That means the average purchase value per bitcoin is $30,137

When the bitcoin rate fell below $20,000 during 2022, that meant a loss, on paper at least, of almost $2 billion. Since MicroStrategy is an exchange-traded company, the state of the bitcoin price hung over the company like a dark cloud.

Still, MicroStrategy and former CEO Michael Saylor were determined not to change the plan. This plan still means that the bitcoins will be kept for the long term. Since its low point at the end of 2022, MicroStrategy ($MSTR) stock is already up 100%.

Relief for MicroStrategy

According to Michael Saylor the rise of the MicroStrategy share is one of the best indicators to assess the price of bitcoin. Due to the nice increase in the bitcoin price in recent weeks, MicroStrategy and co-founder Michael Saylor will at least be able to breathe a sigh of relief for the time being.

Earlier this month was also in it bitcoin news to read that MicroStrategy was sued in the United States for tax evasion. Saylor would have evaded the tax for a period of more than 10 years and his company MicroStrategy would assist him. Fortunately for the company, this charge was reinstated not long after partly rejected by the court.

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