MicroStrategy's Bitcoin holdings exceed 600 billion yen in unrealized gains

Benefits of Bitcoin’s $50,000 recovery

Unrealized gains on the crypto asset (virtual currency) Bitcoin (BTC) owned by the American company MicroStrategy exceeded $4 billion (approximately 600 billion yen) for the first time due to the rise in the price of Bitcoin.

The company currently holds 190,000 BTC in Bitcoin. I just bought an additional 850 BTC last week.

connection: MicroStrategy buys more Bitcoin in January, resulting in unrealized gains of over 300 billion yen

The company's average acquisition price for Bitcoin is $31,224, and the unrealized profit per 1 BTC is estimated to be $20,611.

MicroStrategy first purchased $250 million worth of Bitcoin in August 2020 as part of its capital allocation strategy, betting on its potential for high returns and its innovation as a hedge against inflation. Bitcoin's price was around $12,000 in August at the height of the coronavirus pandemic, but it is now 4.3 times that amount.

In addition, because it holds a large amount of Bitcoin, it was also an investment target for institutional investors as a proxy for Bitcoin ETFs until Bitcoin ETFs were approved in the United States in January of this year.

MicroStrategy's stock price has risen 5x since its 2022 lows. Michael Saylor, chairman of the company known as “Bitcoin Maxi,” revealed in a recent interview with CNBC that he plans to rebrand the company as a “Bitcoin Development Company.”

connection: Chairman of MicroStrategy, which owns a large amount of Bitcoin, talks about outlook and business policy on CNBC

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