MicroStrategy earned nine times as much from bitcoin investments as in 2019

The value of the cryptocurrency MicroStrategy bought this year rose from $425 million to $735.2 million. The main business last year принес the company $34.35 million.

MicroStrategy became the first publicly traded company to invest a portion of its capital in bitcoin.

On Tuesday, 24 November, the price of the first cryptocurrency rose to a new 2020 high, rising above $19,000.

In August, MicroStrategy bought 21,454 BTC (~$250 million at the rate at the time of the deal), and in September the company acquired an additional 16,796 BTC for $175 million.

Between January and September this year, the company, within its core business заработала $1.98 million.

In October, MicroStrategy CEO Michael Saylor stated that bitcoin is the only asset suitable for long-term storage amid growing economic uncertainty.

Net cumulative income for the first three quarters of this year stood at $58.4 million. The profit from investments in the first cryptocurrency since its purchase on June 30 this year amounted to $186.04 million, three times higher.

The investment volumes of MicroStrategy and other publicly traded companies pale in comparison with the figures of not-yet-listed Block.one, Grayscale Investments and CoinShares.

Source: Bitcoin Treasuries.

showed that the growth of the company’s Bitcoin Trust was proportional to 77% of the supply of the first cryptocurrency during that period.

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