MicroStrategy Gains $3 Billion From Crypto Investment as Bitcoin Passes $60,000

• Flagship cryptocurrency Bitcoin crossed $60,000 on Friday afternoon, edging closer to its all-time high

• One of the biggest gainers from this crypto boom is MicroStrategy, whose Bitcoin investment has yielded $3.84 billion in returns

• The company’s total investment in BTC is $3.16 billion and its holding is currently worth $7 billion

MicroStrategy inc appears to be one of the biggest gainers of Bitcoin’s amazing bullish run.

The flagship cryptocurrency surpassed $62,000 on Saturday morning, its highest point in more than six months.

As of September 12th, the software enterprise’s Bitcoin holdings was approximately 114,042 BTC, acquired for an aggregate price of $3.16 billion.

The coins which were bought for an average price of $27,713 per token are now valued at over $61,000. More than 50% profit.

At the time of this report, investment is now valued at about $7 billion, as bitcoin edges closer to its all-time high.

MicroStrategy began investing in bitcoin in August 2020 stating through CEO Michael Saylor that it was better to hold the cryptocurrency on the company’s balance sheet than cash.

The surge in the market has driven the company’s stocks up, with MicroStrategy now valued at about $8.6 billion.

Read also: Russia President Vladimir Putin Throws Support Behind Cryptocurrency

What many termed a controversial and risky investment strategy at that time has now be adopted by Tesla and Square Inc.

Tesla bought into Bitcoin in February 2021, as CEO Elon Musk disclosed an investment of $1.5 billion.

The company however cashed in on some of its holdings and has so far made over $1 billion in profit.

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