MicroStrategy’s unrealized Bitcoin profit tops $1 billion

Unrealized profit on MicroStrategy 158,400 BTC holdings reached $1.17 billion. The analytics software provider’s investment rose by more than 25%, according to BitcoinTreasuries.

Two weeks ago the company eliminated its ‘paper’ loss on digital gold. In 2022 the figure exceeded $1 billion.

At that time, its founder Michael Saylor said that MicroStrategy does not plan to liquidate its cryptocurrency reserves and will continue to hodl even in tough market conditions.

Over three years since the first purchase, the firm has directed $4.69 billion toward digital-gold acquisitions, including fundraising. Its bitcoin reserves are now valued at $5.85 billion.

The second-largest investor among corporate mining companies, Marathon Digital, holds 13,726 mined BTC worth $507.5 million.

A rally in the price of the leading cryptocurrency to $37,000 allowed the unrealized loss of the third-largest holder, Tesla, to be neutralized.

As of writing, the automaker could have booked a profit of $22 million (7%) if it had exited the position, not accounting for the impact of any sales on prices.

Coinbase fared better. The cryptocurrency exchange bought 9,480 BTC at an average price of $12,341. The value of its investment has tripled.

Earlier, MicroStrategy founder Michael Saylor outlined factors that in the medium term will lead to a tenfold rise in the price of digital gold.

In May, the company backed a proposal from the FASB that would require accounting for cryptocurrencies at fair value in the balance sheet.

Earlier, Bernstein analysts forecast a rise in the price of digital gold to $150,000 by January 2025 as a result of approval of spot Bitcoin-ETF in the United States.