MicroStrategy Has Gained $3B From Bitcoin, Tesla & Square Big Earners
MicroStrategy is making serious gains from its Bitcoin investments, with Square and Tesla also seeing their BTC holdings yielding very nice returns.
Bitcoin has been making nice upwards moves in the past weeks, and just today broke past the $60K level for the first time since April.
Bitcoin was valued at around $45,000 in August, MicroStrategy poured $177 million into purchasing 3,907 BTC, bringing its grand total holdings to 108,992 at the time.
CEO Michael Saylor tweeted:
“MicroStrategy has purchased an additional 5,050 Bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per Bitcoin.As of 9/12/21 we hodl ~114,042 Bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per Bitcoin.”
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7
Square commented its approach to Bitcoin in a press release following a purchase of 4,709 BTC last year.
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose.
Square has previously invested in Bitcoin from a product, leadership, and legal innovation perspective, and today adds this financial investment.”
Square holds over 8,000 BTC acquired at “an average price per Bitcoin of $27,407.”
Electric car manufacturer Tesla owns approximately 43,200 BTC bought for an average price of $34,722. At today’s value Tesla has netted a 1.73x return on its investment, according to industry tracker Bitcoin Treasuries.
Bitcoin is currently going for $61,492, up 14% on the week and almost tripled from its 90-day low under $23,000 in July, according to CoinMarketCap.
