According to data monitored by its portfolio, MicroStrategy’s Bitcoin holdings have increased in value to more than $20 billion, resulting in over $10 billion in unrealized gains as Bitcoin’s price surpassed $80,000 today.
Michael Saylor, a Bitcoin advocate, has led the organization in the acquisition of 252,220 Bitcoin since its inception in 2020. The average acquisition cost per Bitcoin is approximately $39,200, resulting in a total investment cost of approximately $9.9 billion.
Bitcoin’s price surge has resulted in a significant increase in MicroStrategy’s unrealized gains. According to CoinGecko data, Bitcoin surged to $80,000 earlier today after Donald Trump’s election victory and the Federal Reserve’s interest rate decision, after reaching $77,000.
BTC was trading at approximately $79,700 at the time of this report, up more than 4% in the past 24 hours and approximately 118% year-to-date.
The reelection of Donald Trump as the president of the United States has inspired optimism regarding the potential for favorable crypto regulations. He has exhibited his advocacy for digital assets by participating in industry events, such as the Bitcoin 2024 Conference.
On Thursday, the US Federal Reserve and the Bank of England implemented 25 basis point rate cuts, which have also contributed to the rally.
Ethereum has expanded by more than 5%, Solana has increased by 2%, and Dogecoin has risen by 14% as a result of Bitcoin’s momentum in the broader crypto market. Over the past 24 hours, the total crypto market valuation has increased by over 3% to $2.8 trillion.
Not only has MicroStrategy’s Bitcoin wager resulted in substantial profits, but its stock performance has also improved.
Yahoo Finance data indicates that MicroStrategy’s stock has recently reached its highest level in 25 years, $270, as a result of Bitcoin’s recent rally. The stock has experienced a year-to-date increase of approximately 330%.
MicroStrategy’s objective is to enhance overall profitability and expand its Bitcoin reserves in the years ahead by leveraging capital markets and focusing on digital asset management, with the goal of increasing shareholder value.
MicroStrategy intends to raise $42 billion over the next three years, divided equally between equity and fixed-income securities, to finance additional Bitcoin acquisitions, as indicated in its Q3 earnings report.
Also Read: Trump administration to hire Cardano inventor Charles Hoskinson as crypto adviser
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