MicroStrategy's bitcoin portfolio reaches $12.24 billion in value as bitcoin breaks past $60,000

MicroStrategy's bitcoin portfolio reaches $12.24 billion in value as bitcoin breaks past $60,000

The bitcoin portfolio of Michael Saylor's firm MicroStrategy briefly exceeded $12 billion in value, the most it has been since the business intelligence firm began its bitcoin buying spree in 2020.

MicroStrategy's bitcoin hit a high of $12.24 billion in value at 12:25 p.m. ET on Feb. 28. The firm's bitcoin wallet balance has since fallen to $11.7 billion, witnessing an increase of over $653,300,000, or 5.9%, within the past 24 hours, according to the crypto data tracker Drops Tab.

MicroStrategy's all-time high bitcoin balance occurred as the price of bitcoin broke past $60,000, a threshold the coin hasn't been reached since October 2021.

MicroStrategy's total bitcoin holdings reached 193,000 after it bought 3,000 worth $155 million at the time on Feb. 26. The firm had purchased 850 BTC for $37.2 million just the month prior, The Block previously reported.

The Block's Data Dashboard shows that MicroStrategy's average bitcoin purchase price for its holdings $31,170 per coin as of Dec. 27, 2023.