Business intelligence company MicroStrategy (MSTR) was sitting on a more than $2 billion profit on its massive bitcoin (BTC) holdings on Monday following the cryptocurrency’s rally above $42,000. Led by then CEO and now Executive Chairman Michael Saylor, MicroStrategy began purchasing bitcoin in August 2020. The company’s most recent purchases took place last month and as of Nov. 30, it held 174,530 bitcoin acquired for $5.28 billion, or an average price of $30,252 each. With bitcoin at $42,000, the value of MSTR’s holdings rose to roughly $7.3 billion. The price at press time had pulled back to $41,700.

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• Source: https://www.coindesk.com/markets/2023/12/05/first-mover-americas-blackrock-received-100k-seed-funding-for-its-spot-btc-etf/?utm_medium=referral&utm_source=rss&utm_campaign=headlines