Microstrategy Incorporated MSTR has emerged as the largest corporate holder of Bitcoin BTC/USD but what if you had purchased $1,000 worth of the apex cryptocurrency on the same day as it did.
The Token: BTC is the largest cryptocurrency in terms of market capitalization. As per CoinMarketCap, the cryptocurrency’s market cap at press time was worth $851.76 billion. Bitcoin is sometimes referred to as “Digital Gold.”
The coin touched an all-time high of $64,863.10 in April this year and currently is trading 30.17% below that level.
At press time, BTC traded 1.23% higher at $45,283.15 over 24 hours and for the week BTC has slipped 13.92%.
The Investment: Microstrategy purchased 21,454 bitcoins at an aggregate purchase price of $250 million, inclusive fees and expenses on Aug. 11, 2020.
At the time, the company’s CEO Michael Saylor said it was because of the view that “Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
Had you invested $1,000 on the same day in BTC, your investment would have netted you 0.088 BTC, approximately, as the apex coin closed at $11,410.53 on the day.
That investment would be worth about $3,968.54 today, a gain of almost 296.85%.
Meanwhile, Microstrategy’s initial investment is today worth $971.5 million. The company has continued to purchase Bitcoin since then and now holds nearly 114,042 BTC, worth a whopping $3.16 billion. Its latest purchase was made on Monday when it acquired 5,050 BTC worth about $242.9 million.
Saylor said referencing Bitcoin on Monday, "slow and steady wins the race.”
Photo: Jernej Furman via Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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