Business
intelligence
company
MicroStrategy
(MSTR)
earlier
on
Monday
was
sitting
on
more
than
a
$2
billion
profit
on
its
massive
holdings
of
bitcoin
(BTC)
following
the
crypto’s
rally
above
$42,000.
Led
by
then
CEO
and
now
Executive
Chairman
Michael
Saylor,
MicroStrategy
began
purchasing
bitcoin
in
August
2020.
The
company’s
most
recent
purchases
took
place
last
month
and
as
of
Nov.
30,
MicroStrategy
held
174,530
bitcoin
acquired
for
$5.28
billion,
or
an
average
price
of
$30,252
each.
With
bitcoin
at
$42,000
earlier
Monday,
the
value
of
MSTR’s
holdings
rose
to
roughly
$7.3
billion,
or
more
than
a
$2
billion
profit.
The
price
at
press
time
had
pulled
back
modestly
to
$41,700.
Bitcoin
(BTC)
has
not
seen
such
a
high
level
since
April
2022,
or
before
the
crash
of
the
Terra
ecosystem.
At
its
lowest
during
the
bear
market
of
2022,
bitcoin
had
pulled
back
to
under
$16,000,
putting
MicroStrategy’s
bet
deep
in
the
red.
Saylor,
however,
continued
to
add
to
the
company’s
holdings,
funding
purchases
with
a
mixture
of
debt
and
equity
issuance.
Microstrategy
(MSTR)
shares
were
trading
around
6%
higher
on
Monday.
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