MicroStrategy’s Bitcoin Bet Doubles to $6 Billion as Price Soars
- CEO Michael Saylor celebrates Bitcoin’s surge in Twitter posts
- Imminent SEC approval of Bitcoin ETF pushing prices higher
Michael Saylor
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
MicroStrategy Inc. appears to be one of the bigger beneficiaries from the euphoria surrounding the likely launch of Bitcoin ETFs, with the overall value of the company’s holding of the cryptocurrency doubling.
The enterprise software firm held approximately 114,042 Bitcoin as of Sept. 12, acquired at an aggregate purchase price of $3.16 billion and an average price of $27,713 per token, inclusive of fees and expenses. That investment is now valued at about $6.7 billion, with the price of the digital currency topping $60,000 Friday as it approached record highs.