MicroStrategy’s Bitcoin bet yields more than $2 billion in profits | CoinDesk JAPAN

As the price of Bitcoin rose by more than 6.09 million yen (exchanged to 145 yen per dollar), MicroStrategy’s valuation gain from holding a large amount of Bitcoin reached $2 billion (approximately 290 billion yen) on the 4th. ) or more has been reached.

Led by then-CEO and now executive chairman Michael Saylor, MicroStrategy began purchasing Bitcoin in August 2020. The most recent addition was last month, and as of November 30th, MicroStrategy held 174,530 BTC, acquired for an average of $30,252 per BTC, for a total of $5.28 billion.

As of the 4th, the Bitcoin price was $42,000, so the value of MicroStrategy’s Bitcoin holdings has increased to approximately $7.3 billion, resulting in a valuation gain of more than $2 billion. As of this writing, the price had dropped slightly to $41,700.

Bitcoin has not risen to levels like this since April 2022, when the Terra ecosystem collapsed. During the 2022 bear market, Bitcoin fell to lows below $16,000, and MicroStrategy’s bets were in the red. But Saylor continued to buy more, financing his purchases through a combination of debt and equity issues.

MicroStrategy shares rose about 6% on the 4th.

｜Translation and editing: Rinan Hayashi
｜Image: Shutterstock
｜Original text: Michael Saylor’s Bitcoin Bet Profit Tops $2B