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MicroStrategy’s Bitcoin Investment Hits $745M Unrealized Profit

Published 10/24/2023, 09:21 PM
Updated 10/24/2023, 09:45 PM
© Reuters.  MicroStrategy’s Bitcoin Investment Hits $745M Unrealized Profit
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  • MicroStrategy’s Bitcoin investment is now at a $745 million unrealized profit.
  • The firm’s Bitcoin holdings flipped into profit following the recent rally.
  • Bitcoin surged 17.5% since yesterday following renewed buying frenzy.

Michael Saylor’s MicroStrategy Bitcoin investment is now at a $745 million unrealized profit according to Watcher Guru, the real-time finance coverage platform. Watcher Guru released this information via a recent post on its account on X (formerly Twitter).

According to reports, MicroStrategy’s Bitcoin holdings flipped into profit following the recent rally by the flagship cryptocurrency. A buying frenzy appears to have taken over the market as Bitcoin surged 17.5% since yesterday. The recent rally pushed Bitcoin’s price to $35,198, marking the highest price it has reached since the beginning of 2023, according to data from TradingView.

The investment firm holds a cumulative 158,245 BTC in its portfolio, following active Bitcoin accumulation over the years. Reportedly, the…

The post MicroStrategy’s Bitcoin Investment Hits $745M Unrealized Profit appeared first on Coin Edition.

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