Token

GambleFi

Bitcoin

Stash

<div class="insidebitcoins">
 The Bitcoin price has surged 21% in a month, boosting profits on Microstrategy’s BTC holdings to about $4 billion.
 The largest publicly-traded corporate owner of Bitcoin now has a stash of Bitcoin that’s worth more than $9.938 billion with BTC trading at $52,307 at 7:47 a.m. EST.
 A recent investor presentation revealed the asset management firm held 190,000 BTC at the end of January, purchased for $5.93 billion, or about $31,224 per BTC coin.&nbsp;
 <h2 id="span-style-font-weight-400-microstrategy-has-consistently-bought-btc-since-q2-2020-span">MicroStrategy Has Consistently Bought BTC Since Q2 2020</h2>
 MicroStrategy started purchasing BTC in the second quarter of 2020 and has consistently bought more since then.&nbsp;Its most recent purchase was in January this year when MicroStrategy bought another 850 BTC valued at $37 million. 
 It purchased 56,650 BTC in 2023 at an average price of $33,580, said chief financial officer Andrew Kang at a fourth-quarter earnings call on Feb. 
 <h2 id="span-style-font-weight-400-michael-saylor-s-bullish-stance-on-bitcoin-span">Michael Saylor’s Bullish Stance On Bitcoin</h2>
 MicroStrategy’s bullish stance towards Bitcoin is led by the firm’s executive chairman Michael Saylor. In the Feb. 6 earnings call, he said BTC is “the first new asset class of the modern era.” He added that the next 15 years will be a “regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 #Bitcoin represents the digital transformation of capital. Money is flowing out of 20th century analog assets into the digital economy at an increasing rate. $BTC is digital property protected &amp; transmitted by digital power. pic.twitter.com/yJV6IF1scF
 — Michael Saylor⚡️ (@saylor) February 15, 2024
 </blockquote>
 
 He also said that the company has no intention of selling its BTC any time soon. This is because Saylor expects MicroStrategy’s allocation in BTC to continue paying off following the introduction of spot Bitcoin ETFs (exchange-traded funds) in the U.S. He called the launch of these investment products a “catalytic moment” in transitioning BTC from a medium of exchange to a store of value.
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-s-profit-on-massive-bitcoin-stash-hits-4-billion-after-btc-s-21-surge-in-a-month-tbt80010.html">https://thebittimes.com/microstrategy-s-profit-on-massive-bitcoin-stash-hits-4-billion-after-btc-s-21-surge-in-a-month-tbt80010.html</a>
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MicroStrategy’s Profit On Massive Bitcoin Stash Hits $4 Billion After BTC’s 21% Surge In A Month

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TheBitTimes

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