Bitcoin BTC/USD flew above $82,000 early Monday morning as the blistering rally sparked by Donald Trump's presidential victory continued to bring riches to investors, particularly those with very large holdings.
What happened: MicroStrategy Inc. MSTR, the company that has pioneered Bitcoin’s corporate adoption, saw the value of its stash swell past $20 billion, according to data from bitcointreasuries.net.
At an average acquisition price of $9.904 billion, the firm was up more than $10 billion in profit on its Bitcoin investments.
| Bitcoin Holdings | Cost Price | Current Market Value | Paper Gains |
| 252,220 | $9.904 billion | $20.703 billion | $10.796 billion |
MicroStrategy adopted Bitcoin as its primary reserve asset on August 10, 2020, becoming the first publicly listed company to pursue this strategy.
Since then, shares of the so-called "Bitcoin development company" have soared 1783%. Interestingly, the stock has outperformed even Bitcoin, with the leading cryptocurrency growing by 592% in the same period.
Why It Matters: MicroStrategy boss Michael Saylor is seen as a Bitcoin evangelist for his unflinching conviction in the asset.
During the company's third-quarter earnings call recently, he backed the cryptocurrency's potential in "fixing" the unhealthy balance sheets of both public and private enterprises.
He even dared the Bitcoin doubters to bet against the company's stock, assuring that he would never sell the acquired holdings.
MicroStrategy announced that it would raise $42 billion over the next three years through equity and debt financing to buy more Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $82,015.09. up 3.09% in the last 24 hours, according to data from Benzinga Pro. Shares of MicroStrategy were up 12% in pre-market trading.
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