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MicroStrategy Achieves Significant Victory: Is Bitcoin’s Impact Showing Results?
American business intelligence and software company MicroStrategy has continued to reap the rewards of its investment strategy. In recent weeks, MicroStrategy’s shares (MSTR) have surged to a six-month high of $186.09.
### Bitcoin’s Impact on MicroStrategy
Founded in November 1989, MicroStrategy garnered significant attention in August 2020 when it chose Bitcoin as its Treasury Reserve Asset. This decision was particularly notable given the tumultuous state of the global economy at that time. Under the leadership of Michael Saylor, MicroStrategy began acquiring Bitcoin and has remained committed to this strategy.
Prior to adopting Bitcoin in 2020, the company’s stock price was consistently below $20. However, its strategic shift toward cryptocurrency has attracted investor interest, boosting liquidity and share price.
Over the past four years, MicroStrategy’s stock has outperformed many competitors on Wall Street, with shares increasing by over 446% in the past year alone. Since August 2020, MSTR has witnessed a staggering rise of more than 1,166.7%. Despite these impressive gains, the stock price remains below its all-time high of $313 achieved on March 10, 2000.
### Profitability Measures
While the fluctuations in share price are noteworthy, MicroStrategy’s profitability is largely driven by its Bitcoin assets. The company recently sold 7,420 BTC for approximately $458.2 million, realizing a price of about $61,750 per Bitcoin. Following this transaction on September 20, MicroStrategy reported a Bitcoin yield of 5.1% for the quarter-to-date and 17.8% year-to-date.
Currently, the company holds 252,220 BTC, which were acquired at an estimated cost of $9.9 billion, averaging around $39,266 per Bitcoin. With Bitcoin trading at about $62,430.35, these holdings are now valued at approximately $15.7 billion. This has resulted in a gross profit of $5.8 billion, potentially instilling greater confidence among investors in MSTR’s future prospects.
