Bitcoin’s price has recently climbed to around $81,107.53, marking an impressive increase of at least 19.56% since November 5, the day of the U.S. presidential election. In the last 24 hours alone, Bitcoin has surged by 2.1%. Companies with large Bitcoin holdings, especially MicroStrategy, have benefited the most from this growth.
Let’s dive into the details and explore what’s behind this market rally.
Experts had predicted that Bitcoin would soon surpass the $80K mark, and those predictions are coming true. On November 8, Bitcoin closed at $76,491.72, but by the weekend, the price had risen by nearly 5.17%. Over the past seven days, Bitcoin has seen a 17.0% increase, pushing its price to $81,107.53.
MicroStrategy, the company with the largest public Bitcoin holdings, is profiting greatly from this surge. It holds 252,220 BTC, which is now worth around $20.48 billion. Since MicroStrategy’s average purchase price for Bitcoin is just $39,266, the company is sitting on an unrealized profit of about $10.55 billion.
Besides MicroStrategy, other companies with large Bitcoin holdings include:
Bitcoin Group SE (3,830 BTC)
Marathon Digital Holdings Inc (25,945 BTC)
Riot Platform Inc (10,019 BTC)
Tesla Inc (9,720 BTC)
Hunt 8 Corp (9,109 BTC)
Coinbase Global Inc (9,000 BTC)
CleanSpark Inc (8,701 BTC)
Block Inc (8,211 BTC)
Galaxy Digital Holdings (8,100 BTC)
Bitcoin is not just owned by companies; several countries hold large amounts as well. The top seven countries with the most Bitcoin are:
Finland – 1,981 BTC
USA – 20,189 BTC
China – 194,000 BTC
UK – 61,000 BTC
Ukraine – 46,351 BTC
Bhutan – 13,029 BTC
El Salvador – 5,748.8 BTC
Some private companies also hold substantial amounts of Bitcoin. The top five private companies by BTC holdings are:
Mt.Gox – 34,164 BTC
Block.one – 140,000 BTC
Tether Holdings LTD – 82,454 BTC
Xapo Bank – 38,931 BTC
BitMEX – 36,794 BTC
The recent surge in Bitcoin’s price has been a major win for institutional investors like MicroStrategy. As the value of Bitcoin rises, so do the portfolios of those with significant Bitcoin holdings. With an unrealized profit of $10.55 billion, MicroStrategy’s Bitcoin strategy continues to pay off and demonstrates the long-term potential of cryptocurrency.
MicroStrategy owns 252,220 Bitcoin. The company began accumulating Bitcoin in 2020 at an average purchase price of $39,200 per Bitcoin, totaling approximately $9.9 billion in investment.
MicroStrategy has an unrealized profit of approximately $10.55 billion from its Bitcoin investment, with an average purchase price of $39,266 per BTC.
The crypto winter seems to be over and the bull run has just begun. Stay tuned!
A new meme coin that is gaining significant attention in the cryptocurrency market is Influencer…
While Bitcoin hovers near its recent range lows, a quiet shift is taking place in…
Dogecoin has experienced a significant decline in the past few hours, facing a sharp selloff…
ICB Labs continues its global expansion, strengthening its blockchain ecosystem through strategic collaborations, enhanced staking…
Are you a crypto newbie who wants to become a crypto whale? If so, you've…
The crypto landscape has been stunned by the rapid success of Remittix which obtained over…
