MicroStrategy has announced a staggering 100% return on its investments in Bitcoin, which speaks volume for the companys visionary outlook towards cryptocurrency. By November 11, the price of 252,200 BTC present in MicroStrategy wallets according to Saylor Tracker has exceeded $20.5 billion. Such a significant rise, has boosted the market capitalization of the company by more than 104%, keeping its corporate-eye on investment sector stable.
The company boasts it is the market leader, positions miles ahead from nearest competitors in corporation sector. By far the most, however, with Marathon Digital and Riot Platforms trailing all the way at $2.1 billion and 840 million in Bitcoin, respectively.
MicroStrategy has an average cost of Bitcoin ownership at $39,292, a number representing both the organization’s strategic position and perseverance over market volatility. CEO Michael Saylor foresaw this volatility at the beginning of their Crypto journey and was able to steer MicroStrategy into the more optimal waters of new institutional interest in crypto.
The crypto landscape still unfolds, but MicroStrategy is at the forefront of it, not only as a corporate investor in Bitcoin but also as an example of confidence that other corporates follow. This gives rise to praise, a lot of it skepticism over how the firm managed to obtain such returns and will this be the future of corporate money in cryptocurrencies.
However, a glimpse of the future can find Microstrategy not wavering in its faith on Bitcoin which may help trigger other corporations to make similar investments. BitPay becoming an institutional crypto success story, particularly as the narrative around cryptocurrencies matures, could fuel the fire of institutional adoption and continue establishing Bitcoin as legitimate asset class. Microstrategy is treading on a path of looking out for future and the company could utilize its massive savings to create new opportunities, exploring innovations within the blockchain space that we probably still cannot envision restructuring corporate finance as we know it.
