MicroStrategy, a US-based software technology company, has seen significant financial gains from Bitcoin, with nearly a billion-dollar profit in 2024. The company’s Bitcoin holdings reached a staggering 189,150 BTC, valued at approximately $8.832 billion as of January 9, marking an increase of $840 million since the start of the year.
The impressive profit since the year’s beginning highlights MicroStrategy’s successful investment strategy. On January 8, as the BTC/USD pair closed with a daily increase of $3,000, the company solidified most of its 2024 returns, totaling around $600 million. MicroStrategy’s cost basis per Bitcoin stands at $31,168 after its latest acquisition of 14,620 BTC.
MicroStrategy’s CEO, Michael Saylor, also enjoys the fruits of this investment, personally holding over 17,000 BTC. If Bitcoin’s price continues to rise, Saylor might join the ranks of the world’s wealthiest individuals, though surpassing current leader Elon Musk would require a Bitcoin price exceeding $1 million.
Despite the company’s earnings, MicroStrategy’s public shares have dropped over 15% since the beginning of the year, according to TradingView data. This contrasts with the company’s financial success during the same period. Saylor recently announced selling $216 million in company options, planning to use the liquidity to further increase his Bitcoin exposure.
As the new year begins, MicroStrategy’s returns outperform other investment instruments like stocks and gold. Saylor emphasized the company’s strength, stating, “This year, Bitcoin has empowered MicroStrategy.”