Bitcoin Price Rally Sees The Value Of Microstrategy’s Total Holdings Go Up By 100%
Bitcoin Price Rally Sees The Value Of Microstrategy’s Total Holdings Go Up By 100%
January 4, 2021
Bitcoin Price Rally Sees The Value Of Microstrategy’s Total Holdings Go Up By 100%
Bitcoin Price Rally Sees The Value Of Microstrategy’s Total Holdings Go Up By 100%
January 4, 2021

Bitcoin (BTC) price rally has seen the value of Microstrategy’s total holdings of the digital asset go up by 100%, as the company has seen the value of its initial haul of 38,250 coins grow to over $1.3 billion from the $425 million spent.

It has been reported that the growth in value of Microstrategy’s digital asset holdings comes on the back of another record-breaking start of the year for Bitcoin.

However, after the recent BTC performances, the value of this Nasdaq listed company’s stock has surged from just under $135 recorded on August 11 to $388.55 by close of trading on December 31.

This has seen Microstrategy’s market capitalization rising from $1.3 billion to $3.6 billion by representing a growth of approximately 187% in less than 6 months.

The report said that Microstrategy initially bought 21,454 BTC on August 11 before adding another 16,796 on September 14 to complete this first round of buying. Since then, the listed firm subsequently increased its BTC holdings to 70,470 coins.

ALSO READ :  Chainalysis Says Almost One Million Bitcoin Is Held By Dark Web Markets And Cybercriminals

Likewise, in December 2020, Microstrategy had used a total of $1.125 billion to buy the 70,470 coins meaning the firm’s digital asset holdings have now more than doubled in value.

Another Nasdaq listed firm Square Inc, which announced its BTC acquisition in early October, has seen the value of its holdings more than triple in value.

The firm used $50 million to acquire a total of 4,709 coins which are now valued at $160 million.

Thus, the value of Square’s stock has gone up by 18.5% from its October 8 value of $183 to finish the year at $217.

Source: Bitcoin News


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.