Due to the ongoing price recovery in Bitcoin, the value of Microstrategy’s total holdings of digital assets has increased by 100%. In particular, the company has seen a value of 38,250 coins, which has increased from $ 425 million to over $ 1.3 billion.
Market capitalization by almost 200%
The growth in the value of Microstrategy’s digital asset holdings is due to another record start to the year for Bitcoin. At the time of writing, BTC is trading at just over $ 34,000 with the crypto market dominating nearly 75%.
Meanwhile, the shares of this Nasdaq-listed company rose in value from just under $ 135 on August 11 to $ 388.55 by the close of trading on December 31, following the latest BTC performance. This increased Microstrategy’s market capitalization from USD 1.3 billion to USD 3.6 billion. This corresponds to a growth of approx. 187% in less than 6 months.
Microstrategy initially bought 21,454 BTC on August 11, before adding an additional 16,796 BTC on September 14 to complete this first round of purchases. Since then, the publicly traded company has increased its BTC holdings to 70,470 coins. At the time of writing, the publicly traded company’s BTC holdings were nearly $ 2.4 billion.
In December 2020, News.bitcoin.com reported that Microstrategy had spent a total of $ 1.125 billion to purchase the 70,470 coins, meaning the company’s digital assets have now more than doubled in value.
BTC acquisition of Bolsters Square Inc.
Similarly, another Nasqad-listed company, Square Inc, which announced its acquisition of BTC in early October, has more than tripled the value of its holdings. For $ 50 million, the company acquired a total of 4,709 coins valued at $ 160 million. Additionally, Square stock is up 18.5% from its $ 183 value on Oct. 8, to closed the year at $ 217.
After the acquisitions of Microstrategy and Square BTC, many other listed companies now hold Bitcoin. According to the website that tracks companies that have publicly disclosed their BTC holdings, around 29 of these organizations currently hold around 1,151,618 coins between them.
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