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MicroStrategy's Bitcoin investment exceeds 10 billion US dollars, holding 190,000 Bitcoins

MicroStrategy's Bitcoin investment exceeds 10 billion US dollars, holding 190,000 Bitcoins

Bitget2024/02/17 01:34
As the price of Bitcoin breaks through $50,000, MicroStrategy's total number of Bitcoins held has reached 190,000, with an investment exceeding $10 billion. Since entering the Bitcoin market in August 2020, the value of MicroStrategy's Bitcoin holdings has exceeded $10 billion. Despite a sluggish market at the beginning of 2022, the company has been increasing its Bitcoin holdings. Although revenue and gross profit declined in the fourth quarter, the company's bitcoin holdings significantly increased.
 
In January, Executive Chairman Michael Saylor announced that he had purchased 850 bitcoins worth $37.2 million. Even though MSTR stock fell by 16% after launching a Bitcoin ETF, Saylor expressed his willingness to sell his personal MSTR shares to buy more Bitcoins. The company believes that Bitcoin is superior to government bonds in terms of returns and therefore decided to switch from government bonds to Bitcoin. Michael Saylor even advocates for potential benefits of using bitcoin as a hedge against inflation. MicroStrategy’s amount of bitcoin exceeds all nine newly launched bitcoin ETFs combined and accounts for nearly 1% of all circulating bitcoins.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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