MicroStrategy has recorded a profit exceeding $2 billion from its Bitcoin holdings as the cryptocurrency’s price surges past $42,000.<br /><br />What Happened: MicroStrategy’s substantial Bitcoin investment has generated a significant return. Under the direction of Executive Chairman Michael Saylor, the business intelligence firm began its Bitcoin investment journey in August 2020.<br /><br />As of November 30, MicroStrategy owned 174,530 Bitcoins, acquired for approximately $5.28 billion at an average cost of $30,252 per Bitcoin.<br /><br />As Bitcoin’s price soared to $42,000 on Monday, the value of MicroStrategy’s holdings skyrocketed to roughly $7.3 billion, translating to a profit north of $2 billion. Despite a slight pullback to $41,700, the firm’s profit remains substantial.
