MicroStrategy’s Bitcoin Profit Hits $8.3B as BTC Nears ATH

Following Bitcoin’s surge above $72,000, the profitability of holding the premier asset has surged considerably. American business intelligence and Bitcoin development company MicroStrategy (MSTR) are among the major beneficiaries of the price uptick as unrealized gains from its Bitcoin stash have appreciated extensively.

Data from the Michael Salyor Bitcoin portfolio tracker shows that MicroStrategy now has a staggering unrealized profit of $8.3 billion, representing an 83.56% all-time appreciation.

MicroStrategy’s cumulative Bitcoin holdings amount to about 252,220 BTC, at an average cost of over $39,464. With the current market value, MSTR’s total assets are worth over $18.3 billion, with approximately $10 billion spent in acquiring the stash.

MicroStrategy’s Bitcoin Bet Paying Off

Meanwhile, the unrealized profit is a testament to the effectiveness of MicroStrategy’s strategic Bitcoin. The business intelligence firm has been accumulating the crypto firstborn since September 2020 after adopting it as a primary asset reserve.

MicroStrategy has become the public company with the largest Bitcoin holdings. Notably, the firm has held Bitcoin and kept buying into the asset through the long crypto winter, which saw Bitcoin trade around $16,000 in 2022.

Consequently, the firm’s diamond-handed disposition has paid off, considering the hefty gains of its Bitcoin stash. MicroStrategy’s total capital is up over 44%, moving from almost $10 billion to $18.3 billion at press time. 

Notably, its stock, MSTR, has also been a major beneficiary of the strategic adoption of Bitcoin. For context, MSTR has surged to a 25-month high of $258, outperforming traditional stocks and bonds in the past year.

Bitcoin Nears ATH

The surge in MicroStrategy’s portfolio profit came following Bitcoin’s surge near its all-time high of $73,700. The leading crypto asset surged past $73,000 on Tuesday but failed to break its previous high.

Notably, Bitcoin has rediscovered its bullish form, catalyzed by several market factors. One of them includes the increased inflow from the US Bitcoin spot exchange-traded funds (ETFs).

The Bitcoin investment product saw an inflow of $870 million, with BlackRock’s IBIT attracting $629 million from investors. The US Bitcoin spot ETFs have now seen a cumulative inflow of $23.28 billion and a net asset of $72.55 billion.

Bitcoin was trading at $72,069 at press time, 2.2% short of its seven-month-old all-time high.