The total value of MicroStrategy’s Bitcoin holdings surpassed $10 billion as the price of the cryptocurrency rose to nearly $53,000 on Thursday.
The company last reported owning 190,000 bitcoins. The market capitalization of the world’s most popular cryptocurrency rose to $52,803 as of 9:56 a.m. ET on Thursday, according to The Block Price Page. This brings the company’s asset value to over $10 billion.
MicroStrategy recently announced that it had acquired an additional 850 Bitcoins in January for $37.2 million. by post says Michael Saylor, company founder and chairman. For most of last month, the price of Bitcoin has fluctuated with the launch of several spot Bitcoin ETFs issued by traditional financial institutions such as BlackRock and Fidelity.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.