MicroStrategy Acquires Additional 27,200 BTC, Total Profits Reach $11 Billion
MicroStrategy has purchased another significant amount of Bitcoin, pushing its total profits from Bitcoin holdings to an astonishing $11 billion.
Michael Saylor's MicroStrategy, the largest corporate holder of bitcoin, has bought another 27,200 BTC for $2 billion.
Its bitcoin stash was acquired for a cumulative $11.9 billion, meaning MicroStrategy is currently in profit to the tune of around $11 billion.
The Tysons Corner, Virginia-based firm now holds 279,420 BTC, worth just under $23 billion as bitcoin has scaled to an all-time high of above $82,000.
MicroStrategy's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date. The company's latest acquisition of 27,200 has already banked over $200 million in profit, given they were acquired at an average price of $74,463 apiece and have appreciated nearly $8,000 per coin.
MicroStrategy's bitcoin-acquisition strategy involves issuing shares and then acquiring BTC with the proceeds, which helps to drive bitcoin's price further. MSTR shares are up over 9% in pre-market trading at $295 as of the time of writing.
