Microstrategy, which currently holds the lead as the company with the largest Bitcoin holdings, is scheduled to report quarterly earnings with investors awaiting comments from the industry. The company's BTC holdings currently bear about 50% of unrealized losses on the total investment made to buy Bitcoin. So it's no wonder why last week's surge in Bitcoin (BTC) prices came as a much-needed relief to investors amid an ongoing series of bearish phases in the market.
However, the current range is well below the price the crypto market reached during its peak last year. The majority of Bitcoin investors are still trading at a loss following the prolonged bearish momentum of 2022. For most of 2022, Bitcoin Microstrategy's holding curve followed a sideways trend with 50% overall loss on investment. Unrealized losses may not have much bearing on the company's prospects if it continues to hold BTC in the long term. The company reported a loss of over $1 billion in the second quarter of 2022 as the price of BTC dropped significantly.
Based on Microstrategy's play patterns, the company looks to hold Bitcoin for the long term. This is evident that Microstrategy has added more assets to the BTC calculation by taking advantage of the price drop. In this context, it will be interesting to see if the company makes any comments on its Bitcoin strategy in the near future. Currently, Microstrategy is the largest institutional Bitcoin holder along with Marathon Digital and Tesla. Elon Musk reportedly has a Bitcoin balance of 9,720 at the moment.
It should be noted that Microstrategy has changed leadership this year. Michael Saylor, one of Bitcoin's strongest proponents, stepped down from the CEO role in August. However, Saylor now continues with the company in the capacity of executive chairman. He now focuses more on Bitcoin Microstrategy's acquisition strategy and related crypto advocacy initiatives.
According to Bitcoin Treasuries, MicroStrategy held 130,000 BTC as of last month. The company made a small purchase of 301 BTC at $19,851 on September 20. As of this writing, BTC price is at $20,554, down 0.88% in the last 24 hours,
