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MicroStrategy\u2019s Bitcoin (BTC<\/a>) investment is now in the green, boasting over $110 million in unrealized profits after the flagship asset jumped above $30,000 earlier today, according to CryptoSlate\u2019s <\/em>data.<\/p>\n Saylortracker, a dedicated platform for monitoring MicroStrategy\u2019s BTC holdings, confirms that BTC\u2019s current value surpasses the firm\u2019s average purchase price.<\/p>\n Data<\/a> from the website shows that MicroStrategy had acquired its 158,245 Bitcoin bag at an aggregate purchase price of $4.83 billion and an average of $29,870.14 per coin.<\/p>\n With the top cryptocurrency trading for $30,493 as of press time, the company is profiting more than $600 on each BTC as its holdings are now worth $4.84 billion.<\/p>\n Over the years, MicroStrategy has consistently expanded its holdings, with its most recent purchase<\/a> being the acquisition of \u00a05,455 units between Aug. 1 and Sept. 24. The company holds 14 times more BTC than the closest public company, Marathon Digital, according to data<\/a> from Bitcoin Treasuries.<\/p>\n Michael Saylor, the business intelligence company\u2019s chairman, remains a vocal proponent of BTC. On Oct. 21, he shared data<\/a> showing that BTC has outperformed traditional assets like gold, Nasdaq, Silver, and bonds since MicroStrategy adopted the Bitcoin strategy in 2020.<\/p>\n Meanwhile, MicroStrategy\u2019s MSTR stock is also performing well, rising by 1.62% to $353.67 at pre-market trading, according to Tradingview data<\/a>. The asset has recorded an impressive year-to-date increase of 138.92%.<\/p>\n Bitcoin\u2019s recent price surge is closely tied to growing interest in spot-based Exchange-Traded Funds (ETFs) in the United States.<\/p>\n The leading cryptocurrency rallied past $30,000 just last week following erroneous reports<\/a> that the Securities and Exchange Commission (SEC) had given the green light to BlackRock\u2019s ETF proposal.<\/p>\n Market analysts view<\/a> this reaction as a clear indication of investor optimism for ETF approval. According to insights<\/a> from crypto research firm Matrixport, Bitcoin\u2019s value could surpass $50,000 if the SEC approves an ETF application.<\/p>\n The post Bitcoin recent rally pushes MicroStrategy into over $110M in paper profit<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" MicroStrategy\u2019s Bitcoin (BTC) investment is now in the green, boasting over $110 million in unrealized profits after the flagship asset jumped above $30,000 earlier today, according to CryptoSlate\u2019s data. Saylortracker, a dedicated platform for monitoring MicroStrategy\u2019s BTC holdings, confirms that BTC\u2019s current value surpasses the firm\u2019s average purchase price. Data from the website shows that […]<\/p>\n","protected":false},"author":2,"featured_media":179469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179468"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179468\/revisions"}],"predecessor-version":[{"id":179470,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179468\/revisions\/179470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179469"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETF buzz keeps BTC rising<\/h2>\n