Benzinga - The software technology firm MicroStrategy Inc (NASDAQ:MSTR) has recorded over $840 million in unrealized gains from Bitcoin (CRYPTO: BTC) investment in 2024, with a significant chunk of these gains resulting from a single day’s trading.
What Happened: As per a report by Cointelegraph on Tuesday, MicroStrategy, earned about $600 million in unrealized gains on January 8, fueled by the continued Bitcoin price rally. The company’s Bitcoin treasury, the largest corporate one globally, is currently valued at approximately $8.832 billion, marking an $840 million increase since the start of 2024.
Interestingly, these gains were recorded despite a 15% fall in MicroStrategy’s stock price this year, according to data from Cointelegraph Markets Pro and TradingView.
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Why It Matters: MicroStrategy’s CEO, Michael Saylor, is also reaping the benefits of a lucrative personal investment, holding over 17,000 BTC.
Last week, Saylor has sold shares of the company worth roughly $216 million. This sale is part of a pre-disclosed plan allowing Saylor to liquidate up to 400,000 shares in the period from January 2 to April 26. The shares sold were obtained through exercising stock options, as per a recent regulatory filing.
Saylor believes that even with the emergence of spot Bitcoin ETFs in the U.S., MicroStrategy’s stock remains a compelling choice for Bitcoin-focused investors. As per SEC filings, MicroStrategy’s trove of 189,150 BTC, valued at approximately $5.9 billion, reflects an average acquisition cost of $31,168 per Bitcoin.
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