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MicroStrategy’s Bitcoin Bet Pays Off: Surpassed $20bn in Bitcoin Profits
In a remarkable turn of events, MicroStrategy has successfully surpassed the $20 billion mark in Bitcoin profits, as the cryptocurrency’s price hit an unprecedented all-time high of $108,000. This monumental milestone comes on the heels of the company announcing that it now holds an impressive 439,000 BTC, acquired for a staggering $27.1 billion.
It is worth noting that MicroStrategy’s decision to invest heavily in Bitcoin has not only generated enormous profits but also fueled massive gains in its stock market value (MSTR). Despite the unprofitability of the company’s core software business, its market capitalization now stands at an astonishing $83 billion, a testament to investors’ unwavering confidence.
Coinciding with this remarkable achievement is speculation surrounding President-elect Donald Trump’s plans for a U.S. strategic Bitcoin reserve. This development has the potential to significantly influence the crypto market and amplify the already palpable excitement surrounding Bitcoin.
The news has sent shockwaves through the cryptocurrency community, leaving many wondering if this is merely a temporary blip or a signal of things to come.
Source: coinpedia.org
