Business intelligence firm MicroStrategy has boosted its Bitcoin reserves in the latest spending spree. The company’s latest purchase appeared on Michael Saylor, its co-founder and Chief Executive Officer’s (CEO) verified X handle. According to Saylor, MicroStrategy has acquired 7,420 Bitcoin (BTC) worth approximately $458.2 million.
The new purchase has an estimated $61,750 average selling price for each token. Consequently, MicroStrategy’s Bitcoin holdings skyrocketed to about 252,220 coins, underscoring massive wealth stores.
Revealing other details about MicroStrategy’s Bitcoin investments, the CEO noted that the company has spent approximately $9.9 billion to procure its tremendous Bitcoin holdings. In addition, the total number of Bitcoin stores has a valuation of $39,266 for each token.
Furthermore, Saylor disclosed that in the past quarter, MicroStrategy Bitcoin investments have soared by about 5.1%. More impressively, it spiked by about 17.8% in its year-to-date price change variable, highlighting a blooming venture.
MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per #bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 $BTC acquired for ~$9.9 billion at ~$39,266 per bitcoin. $MSTR https://t.co/JUtgztpzBu
— Michael Saylor⚡️ (@saylor) September 20, 2024
Bitcoin’s Current Worth and Estimated Profit
At the time of writing, CoinGecko’s statistics revealed that Bitcoin is changing hands at approximately $63,200, having recorded a slight 0 1% upswing. The flagship crypto asset’s subtle price change highlights a relatively quiet crypto market reflecting weekend price actions.
In its more extended period price change data, BTC recorded considerable price spikes, underscoring positive prospects. For context, Bitcoin’s 7-day-to-date and 14-day-to-date statistics reflected about 5.4% and 16.4%, respectively, in upswings. However, the 30-date-to-date variable displayed losses of about 0.6%.
Other relevant statistics disclosed that Bitcoin’s trading volume is up by about 19% and has a valuation of $16.95 billion. Bitcoin’s market capitalization remained massive as its dominance nears 60%, with roughly $1.25 in valuation.
Based on current price standings, MicroStrategy’s 252,220 BTC tokens will cost approximately $15.94 billion. Therefore, considering the total investment capital of $9.9 billion, one could estimate that the platform is presently making a profit of $6.04 billion.
