In a strategic move, MicroStrategy has bolstered its Bitcoin reserves with additional purchases in October.
Unfazed by past market dips, their significant unrealized gains position them as a testament to the enduring promise of cryptocurrency investments.
Join us for an in-depth discussion on their financial foresight and the bold future they envisage for Bitcoin.
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MicroStrategy’s Bitcoin Holdings Surpass 158,400 BTC
MicroStrategy, known for its ongoing Bitcoin purchases, announced on November 2, 2023, that they used $5.3 million in October to acquire an additional 155 BTC.
This purchase adds to their holdings, which, after investing $167 million since the second quarter of 2023, total 158,400 BTC to date.
The company reported that the average purchase price of Bitcoin since Q2 2023 was $27,531 per BTC.
MicroStrategy Boasts Nearly $900 Million in Unrealized Gains as of November 2023
Without selling any Bitcoin since beginning its acquisitions in August 2020, MicroStrategy has weathered the substantial decline last year and now sees unrealized gains due to Bitcoin's recovery to $35,000.
With the average purchase price of Bitcoin at $29,586 as of October 31, 2023, the current value translates to nearly $900 million in unrealized gains.
Phong Le, CEO of MicroStrategy, stated in an official release that the company is well-positioned to leverage both the tailwinds of Bitcoin and the growth of the BI business, indicating a continuation of their Bitcoin investment strategy.
With numerous predictions suggesting that Bitcoin's price could exceed $100,000 during a strong bullish market in 2024, the potential for MicroStrategy’s unrealized gains to significantly increase is anticipated.
Long-Term Bitcoin Acquisition Strategy Endorsed by Prominent Investors
Holding and steadily buying Bitcoin, without selling, is a method endorsed by well-known investors.
Robert Kiyosaki, famed author of the Rich Dad Poor Dad series, has expressed that even average investors can become wealthy through the use of the dollar-cost averaging method.
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