- MicroStrategy has billions of dollars in unrealized profits from its Bitcoin holdings.
- The development came after BTC reached a new all-time high.
- MicroStrategy remains the largest corporate holder of the original cryptocurrency.
Business intelligence and analytics pioneer company MicroStrategy has generated billions in unrealized profits from its Bitcoin holdings following the crypto asset’s wild rally during the weekend.
Bitcoin’s price gained over 5% in the last 24 hours to reach a historic all-time high of $80,000 early Sunday as crypto traders basked in Donald Trump’s decisive U.S. presidential election victory and the Federal Reserve’s interest rate cut by 25 basis points on November 7.
MicroStrategy’s Bitcoin Profits
According to MicroStrategy’s Bitcoin portfolio tracker, the unrealized profits on the company’s BTC holdings have eclipsed $10 billion. The BTC portfolio has surged 102.54% since MicroStrategy started buying the crypto asset, standing at $10,206,947 991.40 at the time of writing.
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MicroStrategy’s Bitcoin holdings reached 252,220 BTC on September 20 after the the company bought more tokens for about $458.2 million, including fees and expenses. Before this, the company had acquired another 18,300 Bitcoins for $1.1 billion in cash between August 6 and September 12.
While MicroStrategy is the largest corporate Bitcoin holder, the company plans to scale its accumulation strategy under the “21/21 Plan,” which seeks to raise $21 billion of equity and another $21 billion of debt offerings over the next three years to fund additional purchases of the original cryptocurrency.
In November, MicroStrategy’s co-founder and executive chairman Michael Saylor shared its “exclusive relationship” with Bitcoin. According to Saylor, the company is keen on issuing fixed-income securities backed by BTC and structuring MSTR to outperform the crypto asset via intelligent leverage.
Other Bitcoin holders with astronomical unrealized gains on the crypto asset include El Salvador, whose 5,748.8 BTC stash has yielded profits exceeding $100 million.
Read about other MicroStrategy’s Bitcoin investment principles:
Saylor Leaks MicroStrategy’s ‘Exclusive Relationship’ with Bitcoin
Read how Craig Wright slammed Michael Saylor’s Bitcoin plan:
Craig Wright Slams Michael Saylor’s Trillion-Dollar ‘Bitcoin Bank’ Ambition
