The company’s assets were in the red at the end of 2022 as BTC fell nearly 80% from its November 2021 peak. But events such as the anticipation of the launch of a spot ETF have helped strengthen Bitcoin’s fortunes.
MicroStrategy co-founder Michael Saylor has become one of Bitcoin’s biggest proponents over the years and remains an active buyer. His company has sold assets only once so far – in December 2022, 708 BTC were sold for $11 million.
In September 2023, MicroStrategy bought 5,445 BTC for just under $150 million. As a result, the company’s assets reached 158,245 BTC.
At the current price of Bitcoin, MicroStrategy’s unrealized gains are approximately $160 million.
MicroStrategy’s actions confirmed that the company is bullish. In June, Saylor suggested that the value of Bitcoin would increase tenfold, and in the long term, Bitcoin would dominate tokens and stablecoins by 80%.
Source: Bits
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