The post MicroStrategy’s Bitcoin Bet Pays Off: Surpassed $20bn in Bitcoin profits. appeared first on Coinpedia Fintech News
MicroStrategy has surpassed $20 billion in Bitcoin profits as the cryptocurrency’s price hit an all-time high of $108,000. This milestone comes after MicroStrategy revealed on the 16th that it now holds 439,000 BTC, purchased for $27.1 billion. While its Bitcoin strategy has fueled massive gains, the company’s core software business remains unprofitable. Despite this, MicroStrategy’s stock (MSTR) boasts a market cap of $83 billion, showing strong investor confidence. The surge in Bitcoin also coincides with speculation about President-elect Donald Trump’s plans for a U.S. strategic Bitcoin reserve, which could further influence the crypto market.