1 minute read
- Over the past few months, bitcoin has performed very well and is currently priced above the $13,000 key resistance level.
- A big reason for this is institutional investors and the interest they have shown in the industry and coin of the course of this year.
Over the past few months, bitcoin has performed very well and is currently priced above the $13,000 key resistance level. A big reason for this is institutional investors and the interest they have shown in the industry and coin of the course of this year. MicroStrategy made a $425 million investment in August and September and it seems that that investment is paying off significantly.
Kevin Rooke, an advocate for the industry on Twitter took to the platform to post data showing that the company had made $100 million in profits from its three yeah 38,000 Bitcoin Treasury just two months in. Compared to its day-to-day business, essentially MicroStrategy has made more money in bitcoin than it has in a long time. Going off the tweet, the company has made $78 million from his business operations over the past three years and whereas that is impressive in itself, $100 million in profits from bitcoin in just two months speaks for itself.
Microstrategy has earned $78 million in the last 3.5 years from their business operations.— Kevin Rooke (@kerooke) October 27, 2020
Microstrategy has earned $100 million in the last 2 months from their Bitcoin purchases.
Early this year in August, the company invested $250 million of its excess cash into the leading cryptocurrency to preserve the value of his capital against the currently collapsing US dollar. A month later in September, the company purchased an additional $175 million worth of bitcoin bringing its overall ownership of bitcoin holdings to $425 million.
Assuming that the company has seen the tweet from Kevin, it will be interesting to see what they do with the information.
As I’ve just said, the numbers really do speak for themselves.
© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Investment Disclaimer