Bitcoin generated $2 billion in profits for MicroStrategy
Recently, the business intelligence company MicroStrategy acquired another 3,907 Bitcoins. The amount paid per unit was $45,292, which gives a total of $177 million for the purchase. Now, the company has accumulated 108,992 BTC in custody, totaling $2,918 billion.
So far, the 108,992 Bitcoins acquired by the company total $2,918,000,000, at an average price of $26,769 per BTC.
So, by calculating the amount of Bitcoin the company has, at the current cryptocurrency price, MicroStrategy has $5,300,000,000. This represents an approximate profit of $2.482 billion.
The company’s first purchase was 21,454 BTC for $250 million in August 2020. Since then, these coins have increased 4-fold in price, giving the company a 400% increase in profits.
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While MicroStrategy’s BTC purchases have generated large profits, occasional losses have also been reported in recent months.
According to the company, in the second quarter of 2021, $300 million were lost after the fall of Bitcoin.
“The net loss for the second quarter of 2021 was $300 million, or $30.71 per share,” they announced.
However, the company’s strategic vision remains focused on the long term, as highlighted by the company CEO Michael Saylor.