Bitcoin miners Microstrategy Reaps Significant Profits as Bitcoin Value Skyrockets
Bitcoin’s recent surge to a two-year peak of $50,363 in February had a favorable effect on crypto and mining stocks. Specifically, Bitcoin miners Microstrategy and other cryptocurrency mining stocks saw substantial double-digit gains, somewhat reflecting Bitcoin’s 17.5% increase in value over the same timeframe. Microstrategy, led by founder and chairman Michael Saylor, is known for its endorsement of Bitcoin as a digital gold and a store of value. At present, Microstrategy safeguards a considerable 190,000 BTC, equal to $8.1 billion, in its treasury as a hedge against inflation.
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