MicroStrategy close to $7 billion profit due to successful Bitcoin investments

From Investing.com

September 27, 2024 10:30:20 am:

MicroStrategy is on the brink of hitting a milestone with a $7 billion profit thanks to their aggressive accumulation of Bitcoin, currently valued at almost $7 million. CEO Michael Saylor has led the company in strategic massive Bitcoin investments, positioning it as a leader in the field.

Their method of dollar-cost averaging through consistent buying of Bitcoin, regardless of market conditions, has proven successful for MicroStrategy. By spreading out investments over time, they have managed to keep their total average significantly below the current market price, providing a buffer against volatility.

MicroStrategy’s long-term view of Bitcoin as a hedge against inflation and a store of value has guided their approach to investing. With purchases strategically timed during market corrections and bullish trends, the company’s portfolio has remained profitable despite minor setbacks.

The value of MicroStrategy’s Bitcoin holdings, currently trading at $65,000, may skyrocket if it breaks $70,000. This upward trajectory could lead to exponential growth in their holdings, further solidifying Bitcoin as a viable asset class for institutional investors seeking to diversify their portfolios.

Read more at Investing.com: MicroStrategy’s Portfolio Reaching $7 Billion Profit: Details By U.Today