MicroStrategy’s Bitcoin holdings are now in profit again, thanks to their steadfast commitment to the cryptocurrency. Recognized as one of the leading Bitcoin buyers in recent years, MicroStrategy’s unwavering belief in Bitcoin prompted the company to sell some of its stocks and increase its Bitcoin holdings. This bold move, which may have seemed extreme to some investors, appears to be paying off as suggested by recent price action.

MicroStrategy’s Journey with Bitcoin

In 2020, MicroStrategy emerged as one of the first companies to invest in Bitcoin. In August of that year, the firm initiated its Bitcoin journey by purchasing $250 million worth of the digital asset, and they have continued their momentum ever since. In their latest impressive move, MicroStrategy acquired around 5,445 Bitcoins for approximately $147.3 million between August 1, 2023, and September 24, 2023. As per the company’s disclosure, as of September 24, 2023, MicroStrategy holds approximately 158,245 Bitcoins, acquired at an average price of $4.68 billion.

Bitcoin’s Strong Market Performance

In recent weeks, Bitcoin has showcased one of the most remarkable advances in the entire crypto market, now striving to build a strong momentum above the $30,000 mark. As of now, Bitcoin has witnessed an 11.08% increase in a seven-day timeframe. Although its current trading price rests at $29,838, it has surpassed the $30,000 milestone on several occasions during the week.

While the market experiences significant fluctuations, MicroStrategy’s Bitcoin holdings are reaping the benefits of profitability. Considering that MicroStrategy purchased their Bitcoin holdings at an average price of $29,582 per coin, the company has attained a total profit of roughly $67.4 million as Bitcoin surpasses the $30,000 threshold.

A Resilient Approach to Bitcoin

Bitcoin’s extraordinary performance throughout the past year has eclipsed that of the stock market and other mainstream investments. Furthermore, the cryptocurrency seems primed for a potential price surge in the upcoming months. Numerous financial analysts anticipate a bull run leading to a new all-time high for Bitcoin, primarily as the industry awaits a potential approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).

MicroStrategy’s Bitcoin holdings have proven advantageous, particularly during the 2021 bull run, as evidenced by CryptoQuant’s data. Although the market has experienced relative stability since then, MicroStrategy has diligently increased its Bitcoin holdings at opportune moments.

Positioned for Future Growth

In the event of another bull run, MicroStrategy stands to benefit significantly more than most companies due to its consistent accumulation of Bitcoin. Should Bitcoin reach the $50,000 mark, MicroStrategy’s holdings could nearly double in value. The company aims to further increase its Bitcoin holdings over time, intending to make the cryptocurrency a substantial portion of its total assets.

MicroStrategy’s effective Bitcoin investment strategy has proven its mettle, resulting in profitable outcomes amidst a turbulent market environment. As Bitcoin continues to captivate investors’ attention, MicroStrategy stands out as a trailblazer not only for its visionary approach but also for its shrewd choice to ride the wave of digital currency.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.