Michael Saylor’s MicroStrategy Up Over $3 Billion On Bitcoin Investment


MicroStrategy has officially doubled its money on its Bitcoin investment. The company’s $3.16 billion in Bitcoin is now worth $6.7 billion.

To date, MicroStrategy holds approximately 114,042 bitcoin, acquired at an aggregate purchase price of $3.16 billion and an average price per bitcoin of $27,713, inclusive of fees and expenses. The firm owns more Bitcoin than any other public company in the world.

In September, Michael Saylor announced that the firm had purchased an additional 5,050 Bitcoin for about $242.9 million in cash during the third quarter period. Over the course of the third quarter of 2021 MicroStrategy purchased a total of 8,957 Bitcoin for approximately $419.9 million. The average price per Bitcoin was $46,875. What’s more, the firm has no plans to sell.

The firm has gained approximately $3.54 billion since its initial Bitcoin investment. But currently, non-investment companies such as MicroStrategy must report Bitcoin as intangible assets. This means Bitcoin gets recorded on balance sheets at its historic cost and is then impaired if the value dips. Although the value can never be revised upward if the price of Bitcoin increases.

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