- The Memeinator presale has raised nearly $820k within weeks of its launch and is seeing huge interest.
- This article looks at MicroStrategy’s Bitcoin investment amid BTC price resurgence
- What does this mean for crypto and for investors looking to tap into new opportunities?
MicroStrategy is reportedly sitting on $60 million in unrealized gains from its haul of Bitcoin (BTC). Despite the crypto market’s bearish flip over the past two years, the business intelligence company continued to buy rather than fold and sell its holdings. The recent purchase of more than $147 million worth of BTC illustrated the firm’s long term bet on the asset.
Despite the bear market’s brutal impact on businesses, MicroStrategy’s approach suggests long term investors could reap big from their crypto investments.
Could this outlook also apply to diversified bets on promising altcoins, one of which could be the Memeinator (MMTR)?
Why MicroStrategy’s Bitcoin bet could pay off big
In September, when MicroStrategy founder and CEO Michael Saylor announced the firm’s latest Bitcoin purchase, he noted that they hodled 158,245 BTC acquired at $4.68 billion. The average buy price was $29,582, while the benchmark crypto traded around $27k at the time.
BTC/USD is down significantly from its all-time highs of $69k. However, the surge above $30k that comes after a brutal downturn illustrates the likely benefit of resilience for investors.
JUST IN: Michael Saylor’s MicroStrategy #Bitcoin investment is currently at a $60,000,000 unrealized gain.
— Watcher.Guru (@WatcherGuru) October 22, 2023
Investors will know that the crypto ecosystem’s wild price fluctuations do pose a risk to any portfolio. Yet, what the $60 million unrealized gains for MicroStrategy show is that this could easily jump into hundreds of millions of dollars. That is, if BTC price goes parabolic as anticipated in the next bull cycle.
Analysts have predicted that Bitcoin price could rally to a new all-time high above $100k if a spot Bitcoin ETF is approved and coincides with the upcoming rewards halving event. Further adoption amid mainstream investment could propel the coin’s value higher in the long term. It’s what MicroStrategy appears to be betting on and one strategy that realizes the obvious risks also come with great potential.
Although Bitcoin stands out within the crypto…