MicroStrategy's $4 billion bitcoin bet in the green as price hits $30,000

Quick Take

  • Bitcoin was trading at $30,139 at the time of writing, above MicroStrategy’s average purchase price of $29,803.
  • Michael Saylor’s firm had been in the red on its bitcoin purchases since June 2022.
  • The software company made two recent purchases, which lowered its average purchase price. 

Thanks to the latest rally in the crypto market, MicroStrategy's bitcoin holdings are in the green, on paper at least.

Bitcoin was trading at $30,103 by 4:40 a.m. EST, up 1.6% over the past 10 hours, according to Binance data via TradingView. The cryptocurrency is up 82% year-to-date and recently registered its best quarterly increase in two years. The rise in bitcoin has been linked to the prospect of interest rate increases peaking amid banking stress in the U.S. and across Europe.

The surge in prices has pushed the price of bitcoin above MicroStrategy's average purchase price of $29,803. While that means the company is technically up, it's only by a few hundreds dollars, which is a small buffer. Since the company owns so much bitcoin, if it was sold in a short period of time, it would likely push the price down significantly in the process. This means the company likely wouldn't be able to sell all of its bitcoin for a profit yet if it wanted to.

MicroStrategy's bitcoin holdings have been in the red since last June. At the time, the collapse of crypto lender Celsius and the failure of crypto hedge fund Three Arrows Capital propelled the markets down even further. During this time, the U.S. Federal Reserve also increased interest rates to combat rising inflation. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Recent bitcoin purchases lowered MicroStrategy's average purchase price. MicroStrategy added 1,045 bitcoin on April 5, following up on a March 27 announcement that stated it had bought 6,455 bitcoin. 

MicroStrategy and its subsidiaries now hold approximately 140,000 bitcoins, at an aggregate purchase price of approximately $4.17 billion, according to The Block Research data. 

Shares in the firm are up 114% year-to-date, outperforming bitcoin, and are trading at $312.78. 

© 2023 The Block. 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.

About Author

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.


To contact the editor of this story:
Tim Copeland at
[email protected]