MicroStrategy’s Bitcoin Position Turns Positive After Breaching $30,000

MicroStrategy, the analytics software provider, has offset its unrealized losses on its bitcoin holdings after the price of the first cryptocurrency breached $30,000.

According to Bitcoin Treasuries, the company’s average purchase price for 140,000 BTC was $29,803. At the time of writing, the position was valued at about $4.21 billion, with slightly lower outlays (~$4.206 billion).

As of the night of April 11, bitcoin reached levels not seen since June 2022. Digital gold is trading around the $30,060 mark.

From March 24 to April 4, 2023, MicroStrategy acquired 1,045 BTC for $29.3 million at an average price of $28,016. The previous investment by MicroStrategy in the first cryptocurrency occurred in March — the firm bought 6,455 BTC for $150 million.

As reported in February, the analytics software provider posted a quarterly loss of $249 million and disclosed attracting $46.6 million since September 2022.

Earlier, MicroStrategy founder Michael Saylor reaffirmed the plan to continue purchasing digital gold. The crypto winter seen in the previous months did not affect the company’s strategy.