MicroStrategy, the first giant firm to announce an investment in Bitcoin (BTC) continues to post double -digit profits every time the price of the crypto king soars.
With profits recorded, there are two possible MicroStrategy actions - either adding more Bitcoin ownership or selling part of the assets to make a profit.
For those of you who follow the development of this firm, be sure to know MicroStrategy started investing in Bitcoin in August 2020 with a purchase of 21,454 BTC at a price of $ 250 million.
Since then, MicroStrategy continued to invest in Bitcoin until most recently in April, the firm added over 253 bitcoins at a value of nearly $ 15 million in cash.
This brings MicroStrategy’s total holdings to a record 91,579 BTC carrying a value of $ 5.3 billion in Bitcoin unit price at the time of writing $ 57,958.
According to MicroStrategy, they are satisfied that their strategy of investing in Bitcoin is bearing fruit, with their profits reaching over $ 1 billion.
"In the future, maybe MicroStrategy will add more bitcoin or sell some of it to reduce the holding quantity." clearly the firm.
After MicroStrategy made strides in the crypto sector, many institutional investors followed the trend. Among them are Square, Inc., Tesla, Inc., and Nexon Co.
