MicroStrategy Makes Big Profit on Bitcoin
MicroStrategy posted more than $17 billion in unrealized profits after Bitcoin surpassed $100,000 for the first time. The company now owns about $40.8 billion in Bitcoin, thanks to a massive buying spree it has been pursuing since 2020, according to data from MSTR Tracker.
MicroStrategy Makes $17 Billion in Bitcoin Profit, While Memecoin Hawk Tuah Gets Caught in Controversy
The company, now known as a “Bitcoin treasury company,” had about 402,000 BTC in its portfolio as of Dec. 5. In the past week, MicroStrategy bought 15,400 BTC worth $1.5 billion, continuing its aggressive acquisition trend. MicroStrategy (MSTR) stock has also performed exceptionally well, up 511% since January. Bitcoin Hits All-Time High of $100,000
Bitcoin hit $100,000 on December 5, marking a new milestone after a year of significant growth. Within 90 minutes of breaking the mark, Bitcoin hit a new all-time high of $104,000.
MicroStrategy Makes $17 Billion in Bitcoin Profits, Memecoin Hawk Tuah Gets Caught in Controversy
Since the beginning of the year, Bitcoin has risen 126%, from around $44,000 to over $100,000. Bitcoin’s market cap is now at an all-time high of $2 trillion, supported by inflows of over $31 billion from U.S. spot Bitcoin ETFs and a supply cut following the fourth halving in April.
Also Read: Moodeng ($MOODENG), Skyrockets Over 67% After Coinbase Listing
Hawk Tuah Memecoin Hit by Rug Pull Accusations
Viral influencer Haliey Welch faced major controversy after the launch of memecoin Hawk Tuah (HAWK) on Dec. 4. The token briefly reached a market cap of $490 million before plummeting more than 90% in just four hours, with its current value sitting at around $41.7 million.
