US-listed company MicroStrategy, the dominant holder of Bitcoin, disclosed last night that it invested an additional $155 million in February to purchase 3,000 Bitcoins, bringing its total holdings to 193,000. With the recent surge in the price of Bitcoin surpassing $55,000, its holdings have seen a staggering profit of $4.8 billion.
MicroStrategy, a US-listed software company, continues to hold the top position in terms of Bitcoin holdings among public companies. Founder and CEO Michael Saylor announced last night that MicroStrategy has added 3,000 Bitcoins to its holdings, bringing the total to 193,000.
According to documents submitted to the US Securities and Exchange Commission (SEC), MicroStrategy purchased 3,000 Bitcoins for $155 million between February 15 and 25. Saylor tweeted, “MicroStrategy has purchased an additional 3,000 Bitcoins for approximately $155 million in cash at an average price of $52,765 per Bitcoin.”
With the launch of Bitcoin futures ETF in the US at the beginning of the year and the positive expectations for the upcoming halving in April, the price of BTC continues to rise. As of the time of writing, the price of Bitcoin has surpassed $55,725, experiencing a 24-hour surge of 8.4%.
This has pushed the value of MicroStrategy’s Bitcoin holdings to over $10.885 billion, resulting in a profit of $4.795 billion. This has completely erased the long-term loss of billions of dollars from previous years. The company’s stock price has also seen a significant increase, with MSTR closing at $796.48 today, representing a 15.86% increase.
MicroStrategy’s total Bitcoin holdings have reached 193,000, more than 12 times that of the second-ranked mining company Marathon. (Source: Bitcoin Treasuries)
Despite the nearly $4.8 billion profit from MicroStrategy’s Bitcoin investment, the company has no plans to sell. As a staunch believer in Bitcoin, Michael Saylor emphasized in a recent interview that “MicroStrategy has no plans to sell Bitcoin in the near future, or even forever, and remains bullish on BTC.”
Saylor stated that he will always buy top-tier assets, and holding Bitcoin is MicroStrategy’s market exit strategy. With Bitcoin’s market capitalization surpassing $1 trillion, it is now competing with larger asset classes such as gold, real estate, and the S&P 500. However, Saylor believes that Bitcoin is superior to all of these asset classes.
In January, Michael Saylor announced a plan to sell MicroStrategy shares daily and sell a total of 315,000 personal shares by April 25, worth approximately $216 million, to buy more Bitcoin.
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