Coin trading profits surpass three years of revenue! MicroStrategy's Bitcoin investment yields nearly $100 million.

MicroStrategy's Bitcoin investment has generated close to $100 million in returns, surpassing the company's actual business profits from Q2 2017 to Q2 2020.

Bitcoin Investment Profits Approach $100 Million

The price of Bitcoin has repeatedly hit new highs this year, currently at $13,740. Nasdaq-listed company MicroStrategy, which purchased 38,250 Bitcoins in August and September this year, is close to achieving investment profits of nearly $100 million.

It is worth mentioning that according to cryptocurrency market researcher Kevin Rooke, the current returns from Bitcoin have exceeded the actual business revenue of the company from 2017 to the second quarter of 2020 (approximately $78 million). Bitcoin has had a significant promotional effect for the company.

Microstrategy has earned $78 million in the last 3.5 years from their business operations.

Microstrategy has earned $100 million in the last 2 months from their Bitcoin purchases.

🚀 pic.twitter.com/k4GPsfxl5t

— Kevin Rooke (@kerooke) October 27, 2020

Bitcoin Attracts More Potential Customers

In terms of business revenue, MicroStrategy also achieved its highest total revenue for the third quarter since 2016, with profits reaching $19.8 million, a 6% increase compared to $11.6 million in the same period last year. The growth in business revenue seems to be related to the company's Bitcoin investment strategy. MicroStrategy CFO Phong Li stated that this investment strategy significantly enhanced the company's reputation in the market and attracted more potential customers.

"We have seen significant returns from our Bitcoin investment strategy, which has enhanced the company's corporate image in a broader market."

Li pointed out that MicroStrategy's Bitcoin business has driven an increase in website traffic and attracted more potential customers. With the increase in business volume during this period, Li stated that MicroStrategy will consider purchasing more Bitcoin.

Expectation for Other Public Companies to Follow Suit

As the price of Bitcoin rises, MicroStrategy CEO Michael Saylor's belief in Bitcoin has become stronger. Initially, he purchased Bitcoin as a hedge against currency inflation, but now he seems to have become a staunch Bitcoin advocate. In a Bloomberg interview at the end of September, Saylor predicted that other companies will emulate their strategy and invest in Bitcoin within three to six months:

"It may start with private companies, as they are less conservative, followed by companies of similar size to MicroStrategy in terms of market capitalization, and then small and medium-sized enterprises."

MicroStrategy CEO: I Bought in Early

MicroStrategy CEO Michael Saylor tweeted on the 28th claiming that he purchased 17,709 Bitcoins at an average price of $9,882 before the company's Bitcoin investment case. With the current price, Saylor has made profits exceeding $60 million.

Some have asked how much #BTC I own. I personally #hodl 17,732 BTC which I bought at $9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.

— Michael Saylor⚡️ (@saylor) October 28, 2020