MicroStrategy Inc. MSTR CEO Michael Saylor’s investment in Bitcoin BTC/USD has turned profitable once again as the apex crypto reached $30,000 levels.
What Happened: This follows the company posting a net loss of $1.47 billion for the fourth quarter of 2022.
Despite MicroStrategy consistently losing money for eight consecutive quarters, Saylor’s long-term investment strategy in Bitcoin seems to have paid off, for now.
The company has been heavily invested in Bitcoin since August 2020 and has continued to invest in the cryptocurrency in spite of ongoing losses.
At the time of writing, BTC is trading at $30,134, up 6.55% in the last 24 hours.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
The apex cryptocurrency’s revival has sparked wishes from the crypto community on Twitter.
Saylor’s MicroStrategy purchased an additional 1,045 bitcoin, worth $23.9 million at an average price of $28,016 between March 23 and April 4.
As a result, MicroStrategy now holds approximately 140,000 Bitcoins, roughly worth $4 billion at the current price of $28,500. The overall average purchase price of these holdings is $29,803.
Read More: Bitcoin Crosses $30K, Ethereum And Dogecoin Flash Green: Analyst Says 11 Mysterious, Identical Transactions Caused Apex Crypto To Rally
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