Continuing to Stockpile Bitcoin, MicroStrategy Has the Potential to Gain Profits of IDR 76 Trillion

Liputan6.com, Jakarta – Over the past few years, MicroStrategy (NASDAQ:MSTR) and company chairman Michael Saylor have purchased hundreds of thousands of Bitcoins. So far, the investment in crypto made by MicroStrategy has been very successful.

Reporting from Yahoo FinanceSaturday (2/3/2024), this investment strategy in Bitcoin resulted in MicroStrategy gaining unrealized profits of around USD 4.9 billion or the equivalent of IDR 76.7 trillion (assuming an exchange rate of IDR 15,658 per US dollar) on Bitcoin ownership.

In a February 26 report, MicroStrategy revealed its latest Bitcoin purchase. Between February 15 and 25, the company purchased an additional 3,000 Bitcoins for USD 155.4 million or the equivalent of IDR 2.4 trillion. On the day of the reveal, MicroStrategy shares rose 15.86%, marking one of the best single-day performances in the company's history.

The latest purchase brings MicroStrategy's total Bitcoin reserves to 193,000, worth more than USD 11 billion or the equivalent of IDR 172.2 trillion at current prices. Tokens, which have been continuously purchased over the past few years.

Although large profits can be made by closing positions and selling, MicroStrategy will not be selling its Bitcoin holdings any time soon. Saylor appeared on Bloomberg TV last week to discuss the company's experience with Bitcoin as well as its outlook on the asset, saying there was no reason to sell winning assets and buy losing ones.

MicroStrategy generates revenue of around USD 120 million or the equivalent of IDR 1.8 trillion every quarter and is having difficulty getting positive revenue. Bitcoin profits are much higher than what a company earns from its operations.

In addition, Bitcoin ownership is close to MicroStrategy's market capitalization size of USD 14.5 billion or the equivalent of IDR 227 trillion. The stock has also performed very well in the past month, rising more than 80%.

Saylor began buying Bitcoin in 2020 to hedge against high inflation at the time and pursue returns on excess cash. This investment went very well, and MicroStrategy has become one of the largest Bitcoin investors in the world.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.