Investments in Bitcoin began to bring profit to MicroStrategy

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Investments by MicroStrategy, one of the largest holders of Bitcoin in the world, showed a sharp increase in profits after the first cryptocurrency began to actively rise in price.

At the end of 2022, the company's assets were atin the red as BTC is down nearly 80% from its November 2021 peak. But events like the anticipation of the launch of the spot ETF helped strengthen Bitcoin's fortunes. 

MicroStrategy co-founder Michael Saylor(Michael Saylor) has become one of Bitcoin's most ardent proponents over the years and remains an active buyer. His company has sold assets only once so far - in December 2022, 708 BTC were sold for $11 million.

In September 2023, MicroStrategy bought 5,445 BTC for just under $150 million. As a result, the company's assets reached 158,245 BTC. 

At the current price of Bitcoin MicroStrategy's unrealized profit is approximately $160 million. 

MicroStrategy's actions confirmed thatthe company is bullish. In June, Saylor suggested that the value of Bitcoin would increase tenfold, and in the long term, Bitcoin would dominate tokens and stablecoins by 80%.