{"id":480089,"date":"2024-02-12T12:08:44","date_gmt":"2024-02-12T12:08:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=480089"},"modified":"2024-02-12T12:08:44","modified_gmt":"2024-02-12T12:08:44","slug":"microstrategy-bitcoin-profits-top-3-billion-as-firm-led-by-michael-saylor-now-holds-more-than-1-of-btcs-supply","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/microstrategy-bitcoin-profits-top-3-billion-as-firm-led-by-michael-saylor-now-holds-more-than-1-of-btcs-supply","title":{"rendered":"MicroStrategy Bitcoin Profits Top $3 Billion As Firm Led By Michael Saylor Now Holds More Than 1% Of BTC’s Supply"},"content":{"rendered":"

MicroStrategy, the business intelligence firm founded by Bitcoin bull Michael Saylor, has seen its bet on the leading cryptocurrency payoff as the company’s unrealized profits blast past $3 billion.<\/span><\/p>\n

The company holds 190,000 BTC valued at more than $9 billion at the <\/span>current price.<\/span><\/a> MicroStrategy now owns more than 1% of the leading crypto’s current circulating supply of around 18.6 million.\"Michael<\/span><\/p>\n

MicroStrategy Has Been Actively Accumulating BTC Since 2020<\/span><\/h2>\n

MicroStrategy started investing in <\/span>BTC<\/span><\/a> in 2020 when the crypto was starting to attract the attention of institutional investors. Since making its first purchase of approximately $250 million worth of Bitcoin in August 2020, the firm has steadily topped up its holdings. <\/span><\/p>\n

A recent <\/span>disclosure<\/span><\/a> shows that MicroStrategy acquired its holdings for a total cost of $5.93 billion, which is around $31,224 per BTC coin.<\/span><\/p>\n

The company <\/span>revealed<\/span><\/a> in its fourth quarter earnings call on Feb. 6 that it purchased another 850 BTC last month. <\/span><\/p>\n

Saylor Maintains A Long-Term Bullish Outlook On BTC<\/span><\/h2>\n

Saylor has said that the company is committed to the long-term success of Bitcoin. As such, the company has no intention of sellings its holdings anytime soon. He also believes that 2024 will be a pivotal year for BTC.<\/span><\/p>\n

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#Bitcoin<\/a> is Timeless. pic.twitter.com\/Y8ZXXg7hhd<\/a><\/p>\n

— Michael Saylor⚡️ (@saylor) February 6, 2024<\/a><\/p><\/blockquote>\n