According to CryptoPotato, MicroStrategy has announced that its total Bitcoin holdings have reached 190,000 BTC, worth over $9 billion. The NASDAQ-listed business intelligence software giant has been accumulating Bitcoin for the past three and a half years, with its first substantial purchase in August 2020. Since then, the company has continued to buy more of the cryptocurrency as its reserve asset, regardless of market conditions or Bitcoin's price.
Despite facing consecutive quarterly losses and multi-million BTC impairment charges during the late 2022 and early 2023 market crash, MicroStrategy's Bitcoin stash has continued to grow. The company's average entry price for its Bitcoin holdings is $31,464, meaning it has spent just under $6 billion to accumulate its entire portfolio. With Bitcoin's current price above $47,300, the company's holdings are now worth 50% more, or just over $9 billion.
MicroStrategy's share price has also seen significant growth since it began purchasing Bitcoin. In early August 2020, the company's stock (MSTR) was valued at around $125, but it soared past $1,000 in the next six months as Bitcoin's price also increased. Despite retracing from its all-time high in 2021, MSTR closed Friday's trading session at $646, representing a more than 400% increase since implementing the Bitcoin-purchasing strategy.
MicroStrategy's CEO, Michael Saylor, has previously stated that the firm has no intentions to sell its Bitcoin holdings, meaning that the unrealized profit may continue to remain unrealized.
