Microstrategy Buys More Bitcoin: Here’s How Much Profit It Holds Now
Software company Microstrategy bought another $37 million worth of Bitcoin, bringing its unrealized profit to $37 million. Microstrategy Now Holds This Much In Unrealized Bitcoin Gain Michael Saylor, the founder and chai...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Software company Microstrategy bought another $37 million worth of Bitcoin, bringing its unrealized profit to $37 million.
Microstrategy Now Holds This Much In Unrealized Bitcoin GainMichael Saylor, the founder and chairman of Microstrategy, has announced in an X post that the firm purchased an additional 850 BTC at $37.2 million in January, which was recently approved.
In a post on X, CryptoQuant Netherlands community manager Maartunn explains four important facts about Microstrategy’s portfolio after this latest shopping spree.
First, here is a chart that shows how the total supply held by Microstrategy has grown over the last few years:
The chart shows that the company has made several Bitcoin purchases over the past year and has substantially grown its holdings. Following the latest buying move, the firm’s wallets hold 190,000 BTC.
This is a staggering amount, as the entire circulating supply of the asset is around 19.6 million BTC right now, which means Microstrategy alone holds almost 1% of the BTC supply.
For perspective, all the Bitcoin spot exchange-traded funds (ETFs), including the Grayscale Bitcoin Trust (GBTC), combined, hold about 3.3% of the coins in circulation.
Next, Maartunn has shared a chart displaying the cost of each purchase.
Adding up all these costs, the total price of Microstrategy’s Bitcoin stack is around $5.932 billion. However, the chart below shows that the company’s actual BTC value differs from this amount.
As the graph shows, Microstrategy’s stack’s value at the current cryptocurrency price is notably higher than the amount it used to acquire these coins. In particular, the value of the company’s holdings is currently around $8.1 billion.
Finally, the analyst shared a chart revealing the firm’s unrealized profit and loss trend over the years.
Microstrategy’s Bitcoin holdings had been in the red during the 2022 bear market and most of 2023, but with the start of the rally last October, the company’s fates finally changed as it returned to the green.
The firm’s BTC stack holds significant unrealized gains of almost $2.2 billion. It would appear that Saylor’s strategy may have paid off, at least for now.
BTC PriceAt the time of writing, Bitcoin is trading around the $43,000 mark, up 1% over the past week.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on NewsBTCRelated market context
Bitcoin’s ETF comeback is relying on a $79B futures market betting the rebound holds
Bitcoin’s rebound above $63,000 is being helped by renewed ETF inflows, but the harder test will now be whether the liquidity bene...
Bitcoin ETF Inflows Return As Farside Data Shows Institutions Still Buying The Dip
Bitcoin’s supply headlines have been loud, but ETF flow data is giving bulls something to point to. Farside’s numbers show a $143...
One Vanguard job posting could decide how crypto reaches 50 million investors
Vanguard posted a Head of Digital Assets, Personal Wealth role on July 6, with openings in Dallas, Scottsdale, Charlotte, and Malv...
Aave V4 Clears Formal Verification as Certora Confirms Core Protocol Security and Solvency
Key Takeaways: Certora has officially validated the core smart contracts of Aave V4, such as the Liquidity Hub and Spoke modules....
Lyn Alden: No Cavalry Is Coming for Bitcoin
Lyn Alden built her reputation by refusing to tell Bitcoiners what they want to hear, and her latest appearance on Natalie Brunell...
XRP cleaned out leverage, now ETF demand has to prove itself
XRP’s late-June washout removed a major source of market instability: excess leverage that could have turned another sharp move in...