Share this article
Michael Saylor’s MicroStrategy Bitcoin Bet Tops $4B in Profit
The company was the owner of 190,000 bitcoins as of the end of January.
Updated Mar 8, 2024, 9:37 p.m. Published Feb 15, 2024, 3:50 p.m.
Make us preferred on Google
With bitcoin's price rise to just shy of $53,000, MicroStrategy (MSTR), the largest corporate owner of the crypto has seen its holdings move above $10 billion, amassing a profit of more than $4 billion.
According to the company’s most recent investor presentation, MicroStrategy at the end of January held 190,000 bitcoins purchased for a total of $5.93 billion, or $31,224 per coin. MicroStrategy began acquiring bitcoin in the second quarter of 2020, and has purchased additional tokens every quarter since. In December last year, the company was sitting on a profit of nearly $2 billion, but that's since doubled thanks to bitcon's more than 20% rally since the start of 2024.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin rose to $52,800 early Thursday morning, bringing the value of MSTR's holdings to just above $10 billion and its profit to more than $4 billion. The price has since pulled back somewhat, trading at $52,000 at press time.
MicroStrategy co-founder and executive chairman Michael Saylor recently said that the listing of the spot bitcoin ETFs is pushing up the token’s price as it's brought about a massive imbalance in the supply/demand equation thanks to a decade of pent-up yearning for a retail accessible BTC product.
MSTR shares were flat in Thursday morning trade and up 21% year-to-date.
More For You
More For You
Ethereum’s 50% staking milestone triggers backlash over 'misleading' supply data
CoinShares researcher Luke Nolan says the 50% figure is ‘inaccurate, or at least materially misleading’ and staked ether is closer to 30% of supply. Ethplorer.io’s Aleksandr Vat agrees.
What to know:
- More than half of all ether ever issued has passed through Ethereum’s proof-of-stake deposit contract, but analysts say this overstates how much ETH is actually locked.
- On-chain data show about 37 million ETH, or roughly 31% of the total supply, is currently staked, far below the roughly 80 million ETH that have cumulatively entered the Beacon deposit contract.
- The milestone underscores staking’s growing role in Ethereum’s economics, with some investors likening ETH to a “digital bond” even as critics warn that large players now dominate validator growth.
Top Stories
