Michael Saylor’s company currently has a market valuation of $6.58 billion in digital assets and an unrealized gain of $1.3 billion in Bitcoin purchases
Michael Saylor’s MicroStrategy reported that it has acquired 16,130 bitcoin (BTC) coins totaling approximately $593.3 million.
According to a report on the company’s official website, MicroStrategy currently has 174,530 BTC on its balance sheet, purchased at an average price of $30,252 for a value of $5.28 billion.
As of November 30, 2023, the market valuation of Michael Saylor’s digital assets is $6.58 billion and the unrealized gain from bitcoin purchases is $1.3 billion.
In late October, MicroStrategy’s bitcoin trading position became profitable amid a surge in the cryptocurrency market. The company started buying the digital currency more than three years ago and had been in deep losses for a long time.
MicroStrategy’s former CEO and now its chairman Michael Saylor is considered one of the well-known bitcoin enthusiasts, and the company continues to actively accumulate the coins. Only once, in December 2022, MicroStrategy sold 708 bitcoins worth $11 million.
The company has about 0.89% of existing bitcoins on its balance sheet, and it doesn’t seem to have any intention of curtailing its purchases. In August this year, MicroStrategy said it could raise an additional $750 million through a stock offering and use some of those funds to acquire the digital asset.
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