2023-10-24 17:08:45
Michael Saylor’s MicroStrategy’s bitcoin investment now has an unrealized profit of $745 million, according to Watcher Guru, a platform that provides real-time financial information. This was reported by Watcher Guru in an X-post. According to the analysis, the recent rise of the leading cryptocurrency drove MicroStrategy’s investment to such an extent. Saylor continues to bet big on bitcoin Anyone who paid attention to the performance of bitcoin over the weekend might see that a buying frenzy took over the market and at the time of writing the BTC price had already gone above 34 thousand dollars BTC PRICE . There was an example of a 17.5% price increase in a single day, and the exchange rate even approached 36,000 dollars at the peak of the madness. We last saw this price in early 2023 for the strongest crypto. MicroStrategy currently has 158245 bitcoins in its portfolio, with an average purchase price of $29870. The company bought the first bitcoin back in August 2020, and the Saylors vowed already then that they would collect nicely. So far this year, the company has earned 5,445 bitcoins. According to insiders, the desire to buy will not decrease, and this is also confirmed by Michael Saylor’s posts this year. Not so long ago, Saylor posted on his X-account that bitcoin has returned 147% since August 2020, dwarfing the profits of the S&P 500, the Nasdaq, or even gold. The momentum of the bitcoin price has been going on since many people fell for a fake news regarding the approval of the bitcoin spot ETF on October 16th. Since then, the price of the largest crypto has risen by 30% and more and more people are betting on the further increase.
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