Cointime

Download App
iOS & Android

MicroStrategy’s $4 Billion Bitcoin Bet in the Green As Price Hits $30,000

MicroStrategy's bitcoin holdings are now in the green thanks to the recent rally in the crypto market. Bitcoin is up 1.6% over the past 10 hours and has registered an 82% increase year-to-date. The rise in bitcoin has been linked to the prospect of interest rate increases peaking amid banking stress in the U.S. and across Europe. MicroStrategy's average purchase price of bitcoin was $29,803, and recent purchases have lowered that price. The company and its subsidiaries hold approximately 140,000 bitcoins at an aggregate purchase price of approximately $4.17 billion. Shares in the firm are up 114% year-to-date and are trading at $312.78.

(By Adam Morgan McCarthy)

Comments

All Comments

Recommended for you