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 <p class="paragraph">With its notable rise in value over the last month, Bitcoin (BTC) is posting solid numbers, which spells profit for its most prominent corporate holder, MicroStrategy, and its co-founder, Michael Saylor.</p>
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 <p class="paragraph">Over three years ago, Saylor unveiled a strategy that focused on the aggressive obtaining and <a rel="noopener noreferrer nofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a> of the most popular cryptocurrency available, called the ‘<em>Bitcoin Initiative</em>.’ This strategy is based on acquiring the crypto asset despite its price and market conditions, and, recently, it seems to be paying off.</p>
 <p class="paragraph">In the previous month, MicroStrategy obtained an additional 155 BTC for $5.3 million and now holds 158,400 BTC, Saylor announced in an X post on November 1. Just over a month ago, things were looking bleak for this investment, as it posted -$500 million in unrealized losses.</p>
 <p class="paragraph">However, MicroStrategy is now up over $936 million in profit on its 158,400 Bitcoin <a rel="noopener noreferrer nofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a>s, based on its current price at the time of publication. Its October investment alone, which cost $5.3 million for 155 BTC at $34,193 per Bitcoin, is already returning dividends and has added over $1,000 in several days, according to the actual price of this cryptocurrency, which is $35,238 at the time of press.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
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 <p class="paragraph">At the time of writing on November 2, Bitcoin was changing hands at $35,236, up 1.25% in the past 24 hours. Over the past week, the crypto asset gained around 2.84%% of its value.&nbsp;</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/02/8383c639b07c1e8781c0e1ee512b1147.webp" alt="BTC 7-day price chart  Source: Finbold" class="wp-image-135255" srcset="https://cdn.thebittimes.com/images/2023/11/02/8383c639b07c1e8781c0e1ee512b1147.webp 1024w, https://cdn.thebittimes.com/images/2023/11/02/8383c639b07c1e8781c0e1ee512b1147.webp 300w, https://cdn.thebittimes.com/images/2023/11/02/8383c639b07c1e8781c0e1ee512b1147.webp 768w, https://cdn.thebittimes.com/images/2023/11/02/8383c639b07c1e8781c0e1ee512b1147.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC 7-day price chart Source: Finbold
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 <p class="paragraph">Following a bullish trend from the previous period, Bitcoin continues to gain in value, and according to the indicators from the fundamental and technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, it will continue to do so for the time being. Crypto analyst Michale van de Poppe is optimistic and forecasts bright days ahead for BTC.</p>
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  <p class="paragraph">“Bitcoin breaks out and reaches a new yearly high. Not a massive breakout, but as long as we stay above $34.8K, the next target is $36.5-37K,” he noted.</p>
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    <p lang="en" dir="ltr">#Bitcoin breaks out and reaches a new yearly high.<br><br>Not a massive breakout, but as long as we stay above $34.8K, the next target is $36.5-37K.#Altcoins to follow after. pic.twitter.com/3aCKwvoGXq</p>— Michaël van de Poppe (@CryptoMichNL) November 1, 2023
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 <p class="paragraph">Investors are gaining optimism over the recent news that has hinted at the near completion of the Bitcoin ETF deal, which will implement exchange-traded funds that track the value of Bitcoin and trade on traditional market exchanges.</p>
 <p class="paragraph"><em><strong>Disclaimer:</strong> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-how-much-microstrategy-is-up-on-its-bitcoin-holdings-tbt68827.html">https://thebittimes.com/here-s-how-much-microstrategy-is-up-on-its-bitcoin-holdings-tbt68827.html</a></p>

Here’s how much MicroStrategy is up on its Bitcoin holdings

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