The largest holder of Bitcoin (BTC), Microstrategy, currently has the first cryptocurrency worth $10 billion.
This week, the price of Bitcoin reached a multi-year high and broke through the $52 thousand mark. This contributed to the fact that the assessment of Microstrategy’s reserves exceeded $10 billion. The company currently holds 190 thousand BTC in its account.
MicroStrategy: High Potential
MicroStrategy reportedly rose to 535th place among the largest publicly traded companies in the United States on February 15th. The firm’s unrealized gains account for nearly 70% of its Bitcoin investment, previously valued at $3.5 billion.
According to a recent report, the tech giant currently owns 190 thousand BTC, worth a total of $5.93 billion. The average purchase price of 1 BTC was, therefore $31,224.
Since Saylor made his bet on Bitcoin, the company’s shares have risen more than 500% and are now hovering at $718. MicroStrategy’s capitalization, according to TradingView, at the time of writing is $12.1 billion.
Earlier, the CEO of the company said that MicroStrategy is becoming the developer of the first cryptocurrency.
MicroStrategy and the Path to S&P500
MicroStrategy is one step closer to becoming eligible for inclusion in the S&P 500 index by meeting several eligibility criteria, including a minimum market value and positive earnings over the previous four quarters. So far, the company does not meet the requirements for capitalization – the minimum threshold is $15.8 billion. However, the company’s shares showed positive dynamics throughout last year and remained profitable.
If MicroStrategy were to list on the S&P 500, “ Bitcoin would be in almost every investment portfolio,” according to Joe Burnett, senior product marketing manager at Unchained.
What’s up with the BTC price?
Over the past month, the rate of the first cryptocurrency has increased by a total of 21.5%, according to The VR Soldier experts. It broke a two-year high of $52,749 on February 15 but has since corrected to $51,812.
Earlier, The VR Soldier analysts figured out why Bitcoin is growing. Experts said that the next key support level for BTC could be $56 thousand.
How will the expiration of $1.1 billion options affect the price?
It is quite difficult to predict how the market will behave on the expiration day of a large number of contracts, especially if any events are added that affect the news background. However, traders need to closely monitor the situation to ensure that increased volatility does not lead to unwanted stop-loss orders or poor trading decisions.
We should not forget that the impact of option expiration on the price of the underlying asset is short-term in nature. As a rule, the very next day the market will return to its normal state, and strong price deviations will be compensated.
