MicroStrategy is already up nearly $1B from Bitcoin in 2024

    2024.01.09 | exchangesranking | 58onlookers

    Bitcoin (BTC) has earned American software technology firm MicroStrategy more than $800 million in 2024.

    Data from statistics resource Bitcoin Treasuries confirms that the pioneering corporate investor has made almost nine figures on BTC this year.

    MicroStrategy and Bitcoin: $600 million up in one day

    The ongoing BTC price renaissance is particularly enjoyable for MicroStrategy, owner of the world’s largest corporate Bitcoin treasury.

    Last topped up on Dec. 27, 2023, the firm’s stash now totals 189,150 BTC. As of Jan. 9, this is worth approximately $8.832 billion — $840 million more than on Jan. 1.

    The impressive year-to-date gains form just one of various examples of MicroStrategy’s Bitcoin comeback.

    On Jan. 8 alone, when BTC/USD saw a $3,000 daily candle, the firm netted most of its 2024 returns — around $600 million.

    When it first purchased Bitcoin in August 2020, the largest cryptocurrency traded at just over $10,000. After its latest acquisition of 14,620 BTC, its cost basis became $31,168 per coin.

    As Cointelegraph reported last week, MicroStrategy CEO Michael Saylor is himself enjoying a similarly successful investment, personally owning more than 17,000 BTC.

    Should Bitcoin continue to climb, Saylor could soon enter the world’s rich list — but still needs a BTC price of over $1 million to beat current leader Elon Musk.

    MicroStrategy Bitcoin data (screenshot). Source: Bitcoin Treasuries

    MSTR sees headwinds despite bullish BTC price

    A curious contrast, meanwhile, comes in the form of MicroStrategy stock, whose price has fallen by more than 15% year-to-date, per data from Cointelegraph Markets Pro and TradingView.

    Related: This Bitcoin ’bull cross’ is about to hit for the first time since 2016

    MicroStrategy (MSTR) 1-day chart. Source: TradingView

    Last week, Saylor revealed a $216-million sale of his company options, revealing that he planned to use the liquidity to further boost his own BTC exposure.

    As the new year began, he uploaded MSTR returns relative to stocks, gold and Bitcoin itself to X (formerly Twitter), revealing that the former had outperformed.

    “This year Bitcoin empowered MicroStrategy,” he summarized in accompanying comments.

    MicroStrategy year-to-date stock performance as of Dec. 29, 2023. Source: Michael Saylor/X

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