MicroStrategy’s Bitcoin Bet Turns Profitable Again During Crypto Rally

Cryptocurrency is trading at the highest price since July
Software firm is the largest corporate holder of Bitcoin

Michael Saylor, chairman of MicroStrategy, during an interview at the Bitcoin 2023 conference in Miami Beach.Source: Bloomberg

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By Teresa Xie

October 23, 2023 at 3:32 PM UTC

Updated on

October 23, 2023 at 4:05 PM UTC

This article is for subscribers only.

MicroStrategy Inc. co-founder Michael Saylor’s multibillion-dollar bet on Bitcoin is profitable once again.

The largest cryptocurrency reached almost $31,000 on Monday, the highest level since July. The Tysons Corner, Virginia-based enterprise software maker said last month that $29,582 was the average purchase price of the $4.68 billion in Bitcoin the company held.