Crypto News
| Published On Oct 16, 2021 11:31 am CEST | By Peter Siu

MicroStrategy and Tesla Make Billions on Bitcoin Investments

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Business intelligence firm MicroStrategy, led by CEO/Bitcoin maximalist Michael Saylor, is blessed with its Bitcoin investments, accounting for over 100% profits of nearly $4 billion. Bitcoin has been on a rise in the past weeks and on Friday pierced the $60,000 level for the first time in almost six months.

Late August when Bitcoin was hovering around $45,000, MicroStrategy put another $177 million into purchasing 3,907 Bitcoin, bringing its total holdings to 108,992. Less than month later, in mid-September, CEO Michael Saylor announced on Twitter:

At present time, with the top cryptocurrency trading hands at $61,481.00 according to CoinMarketCap, MicroStrategy’s holdings are worth a staggering $7.01 billion.

Other ‘big winners’ in the crypto space that did not hesitate to get in on Bitcoin, are payments platform Square and electric car manufacturer Tesla.

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It is reported that Square holds over 8,000 BTC which were purchased at an average price of $27,407 per Bitcoin. The Jack Dorsey led company has evidently doubled its investment and its holdings are worth $491.85 million.

Tesla keeps approximately 43,200 Bitcoin locked up at an average purchasing price of $34,722. Elon ‘Technoking of Tesla’ Musk’s business Bitcoin holdings are good for $2.66 billion as of today.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.