Bitcoin

Rise

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<ul>
 <li>The rising price of Bitcoin (BTC) has propelled the unrealized gains of MicroStrategy, the business software company and the largest public holder of the asset, to over $1.1 billion.</li>
 <li>The Bitcoin holdings of the company, founded by Michael Saylor, reached $5.7 billion late Thursday with the price surpassing $37,000 for the first time since May 2022.</li>
 <li>Bitcoin has recently surged amid optimism that U.S. regulators will approve exchange-traded funds (ETFs) holding Bitcoin.</li>
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<p><strong>The recent upward rally in Bitcoin price has increased MicroStrategy company’s revenues from BTC assets: How many Bitcoin assets does the company have?</strong></p>
<h2 id="strong-microstrategy-wins-on-bitcoin-s-rise-strong"><strong>MicroStrategy Wins on Bitcoin’s Rise</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-127931" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="microstrategy" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/microstrategy.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>The recent bullish rally in Bitcoin’s price has increased the profits of MicroStrategy, the business software company and the largest public holder of the asset, to over $1.1 billion, representing an over 25% increase in total investments.</p>
<p>The company’s Bitcoin holdings, often vocalized in tweets supporting the leading cryptocurrency by CEO Michael Saylor, reached $5.7 billion late Thursday as the price exceeded $37,000 for the first time since May 2022.</p>
<p>The company holds 158,000 Bitcoins acquired over a three-year period with revenue from corporate funds and bond sales. The current value of the assets, $5.7 billion, exceeds MicroStrategy’s market capitalization of $7.1 billion.</p>
<p>The total cost for these assets, according to Bitcoin Treasuries data, is $4.6 billion. This is 10 times higher than the cost of Marathon Digital, the second-largest institutional holder holding around 13,000 Bitcoins worth $500 million at current prices.</p>
<p>MicroStrategy’s most recent known purchases occurred in the weeks leading up to September 24, during which the company added 5,445 Bitcoins at an average price of $27,053, slightly below $150 million.</p>
<h2 id="strong-why-did-bitcoin-price-rise-strong"><strong>Why Did Bitcoin Price Rise?</strong></h2>
<p>Bitcoin has been rising lately amid optimism that U.S. regulators will approve exchange-traded funds (ETFs) holding Bitcoin, with some experts believing this move will lead to an influx of investments in the most prominent cryptocurrency.</p>
<p>These expectations increased following a report from COINOTAG on Wednesday, stating that the Securities and Exchange Commission (SEC) has begun discussions on the details of Grayscale Investments’ Bitcoin Trust, known as GBTC, converting into a Bitcoin ETF.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/bitcoin-price-surge-benefits-microstrategy-profits-exceed-1-billion/">Bitcoin Price Surge Benefits MicroStrategy: Profits Exceed $1 Billion!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Bitcoin Price Surge Benefits MicroStrategy: Profits Exceed $1 Billion!

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