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 MicroStrategy, the business intelligence firm founded by Bitcoin bull Michael Saylor, has seen its bet on the leading cryptocurrency payoff as the company’s unrealized profits blast past $3 billion.
 The company holds 190,000 BTC valued at more than $9 billion at the current price. MicroStrategy now owns more than 1% of the leading crypto’s current circulating supply of around 18.6 million.<img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Michael Saylor Makes Important MicroStrategy Bitcoin Statement" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://coingape.com/wp-content/uploads/2024/01/michael-saylor-1.jpg">
 <noscript><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://coingape.com/wp-content/uploads/2024/01/michael-saylor-1.jpg" alt="Michael Saylor Makes Important MicroStrategy Bitcoin Statement">
 </noscript>
 <h2 id="span-style-font-weight-400-microstrategy-has-been-actively-accumulating-btc-since-2020-span">MicroStrategy Has Been Actively Accumulating BTC Since 2020</h2>
 MicroStrategy started investing in BTC in 2020 when the crypto was starting to attract the attention of institutional investors. Since making its first purchase of approximately $250 million worth of Bitcoin in August 2020, the firm has steadily topped up its holdings. 
 A recent disclosure shows that MicroStrategy acquired its holdings for a total cost of $5.93 billion, which is around $31,224 per BTC coin.
 The company revealed in its fourth quarter earnings call on Feb. 6 that it purchased another 850 BTC last month.&nbsp;
 <h2 id="span-style-font-weight-400-saylor-maintains-a-long-term-bullish-outlook-on-btc-span">Saylor Maintains A Long-Term Bullish Outlook On BTC</h2>
 Saylor has said that the company is committed to the long-term success of Bitcoin. As such, the company has no intention of sellings its holdings anytime soon. He also believes that 2024 will be a pivotal year for BTC.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 #Bitcoin is Timeless. pic.twitter.com/Y8ZXXg7hhd
 — Michael Saylor⚡️ (@saylor) February 6, 2024
 </blockquote>
 
 “2024 is the year of the birth of Bitcoin as an institutional-grade asset class,” said Saylor in the earnings call. “It’s the first new asset class of the modern era. The next 15 years will be a regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”
 MicroStrategy’s chief financial officer, Andrew Kang, revealed in the earnings call that the company bought a total of 56,650 BTC in 2023 at an average price of $33,580. This means that with BTC trading at $47,887 as of 6:25 am EST, the company’s profit on BTC for 2023 alone was more than $810K.
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-bitcoin-profits-top-3-billion-as-firm-led-by-michael-saylor-now-holds-more-than-1-of-btc-s-supply-tbt79578.html">https://thebittimes.com/microstrategy-bitcoin-profits-top-3-billion-as-firm-led-by-michael-saylor-now-holds-more-than-1-of-btc-s-supply-tbt79578.html</a>
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MicroStrategy Bitcoin Profits Top $3 Billion As Firm Led By Michael Saylor Now Holds More Than 1% Of BTC’s Supply

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