MicroStrategy's bitcoin portfolio reaches $12.24 billion in value as bitcoin breaks past $60,000

The Block2024/02/28 20:26

By: MK Manoylov

MicroStrategy reached a high of $12.24 billion before falling down to around $11.7 billion.The firm’s bitcoin balance is the highest its ever been, as bitcoin’s price broke past $60,000 for the first time since October 2021.

MicroStrategy's bitcoin portfolio reaches $12.24 billion in value as bitcoin breaks past $60,000 image 0

The bitcoin portfolio of Michael Saylor's firm MicroStrategy briefly exceeded $12 billion in value, the most it has been since the business intelligence firm began its bitcoin buying spree in 2020.

MicroStrategy's bitcoin hit a high of $12.24 billion in value at 12:25 p.m. ET on Feb. 28. The firm's bitcoin wallet balance has since fallen to $11.7 billion, witnessing an increase of over $653,300,000, or 5.9%, within the past 24 hours, according to the crypto data tracker Drops Tab .

MicroStrategy's all-time high bitcoin balance occurred as the price of bitcoin broke past $60,000, a threshold the coin hasn't been reached since October 2021.

MicroStrategy's total bitcoin holdings reached 193,000 after it bought 3,000 worth $155 million at the time on Feb. 26. The firm had purchased 850 BTC for $37.2 million just the month prior, The Block previously reported.

The Block's Data Dashboard shows that MicroStrategy's average bitcoin purchase price for its holdings $31,170 per coin as of Dec. 27, 2023.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!