The cryptocurrency industry has experienced significant growth in recent weeks with an influx of capital. This influx of capital has forced Bitcoin over various price resistances, with the latest being a brief cross over the $37,000 level. MicroStrategy has emerged as a prominent public company that has successfully capitalized on this price push.
MicroStrategy’s blockbuster bet on the world’s largest cryptocurrency has certainly paid off so far. The company has posted over $1 billion in unrealized profit thanks to Bitcoin’s 36% increase from $26,750 since October 13. Shares of MicroStrategy have also risen simultaneously, soaring more than 55% since the same time period.
MicroStrategy’s Bold Bitcoin Bet Paying Off
MicroStrategy started buying in Bitcoin in 2020 but the latest acquisition came in October, amidst the