{"id":173379,"date":"2023-03-31T21:27:11","date_gmt":"2023-03-31T21:27:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=173379"},"modified":"2023-03-31T21:27:11","modified_gmt":"2023-03-31T21:27:11","slug":"microstrategys-mstr-4-billion-bitcoin-bet-inches-towards-profitability","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/microstrategys-mstr-4-billion-bitcoin-bet-inches-towards-profitability\/","title":{"rendered":"MicroStrategy\u2019s ($MSTR) $4 Billion Bitcoin Bet Inches Towards Profitability"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-770x433.webp\" class=\"flipboard-image wp-post-image\" alt=\"MicroStrategy\u2019s ($MSTR) $4 Billion Bitcoin Bet Inches Towards Profitability 10\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-770x433.webp 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-300x169.webp 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-1024x576.webp 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-500x281.webp 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-269x151.webp 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy-746x420.webp 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/microstrategy.webp 1280w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"MicroStrategy\u2019s ($MSTR) $4 Billion Bitcoin Bet Inches Towards Profitability 19\"><img alt='' src='https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=50&#038;d=retro&#038;r=g' srcset='https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=100&#038;d=retro&#038;r=g 2x' class='avatar avatar-50 photo' height='50' width='50' \/><\/p>\n<ul>\n<li>Bitcoin\u2019s recent hike has brought MicroStrategy\u2019s Bitcoin bet closer to profitability again.&nbsp;<\/li>\n<li>Under Michael Saylor, the IT firm spent over $4 billion to acquire more than 138,900 BTC over three years.&nbsp;<\/li>\n<li>The Bitcoins were purchased for an average price of $29,817, just $1500 more than its current price.&nbsp;<\/li>\n<li>The company\u2019s share price has gained more than 146% amid BTC\u2019s rally.&nbsp;<\/li>\n<\/ul>\n<p>MicroStrategy\u2019s popular Bitcoin bet seems to be heading toward profitability once again after being in the red for the past three quarters. With Bitcoin maximalist Michael Saylor at its helm, the IT firm has amassed 138,955 BTC over the past three years, spending a whopping $4.14 billion on the flagship cryptocurrency.&nbsp;<\/p>\n<h2><strong>MicroStrategy stock soars amid BTC rally<\/strong><\/h2>\n<p>Since the beginning of 2023, Bitcoin has gained more than 71%, going from $16,547 all the way up to $28,336 at the time of writing. This rally marked BTC\u2019s biggest quarterly gain in two years. The current price is roughly $1500 below MicroStrategy\u2019s average purchasing price of $29,817. Earlier this week, BTC\u2019s price managed to reach $29,142 for a brief period, bringing Michael Saylor\u2019s Bitcoin bet closer to breakeven, and even profitability.&nbsp;<\/p>\n<p>Saylor\u2019s first BTC purchase came back in August 2020, when he chose Bitcoin over traditional investment vehicles like short-term U.S. government securities, to invest MicroStrategy\u2019s cash as a hedge against inflation. For comparison, short-term U.S. government bonds have returned roughly 2.5% since Saylor\u2019s first BTC investment. Bitcoin\u2019s massive rally in 2021 led to quarterly paper gains of as much as $3.1 billion for Saylor\u2019s firm.\u00a0<\/p>\n<p>While BTC\u2019s fluctuation has prompted impairment charges of more than $2.1 billion for MicroStrategy. For the first time in ten quarters, the firm may be able to avoid having to write down the value of its BTC holdings, thanks to the hike in BTC\u2019s price. 2023\u2019s Bitcoin rally has had a significant impact on MicroStrategy\u2019s ($MSTR) share price. The stock has gained more than 146% since the beginning of the year and is currently trading at $292. Bitcoin has returned 71% over the same period.\u00a0<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-4-billion-bitcoin-profit\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s recent hike has brought MicroStrategy\u2019s Bitcoin<\/p>\n","protected":false},"author":3,"featured_media":173378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MicroStrategy\u2019s ($MSTR) $4 Billion Bitcoin Bet Inches Towards Profitability - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/microstrategys-mstr-4-billion-bitcoin-bet-inches-towards-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MicroStrategy\u2019s ($MSTR) $4 Billion Bitcoin Bet Inches Towards Profitability - 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