MicroStrategy, an American company that offers mobile software, business intelligence and cloud-based services and is the largest institutional Bitcoin holder, is seemingly reaping the long bet it placed on the world's largest crypto asset by market capitalization, as its stock price surged by 3% after BTC crossed the $30,000 key psychological price level this week.

A filing with the U.S. Securities and Exchange Commission (SEC) on April 5 disclosed that MicroStrategy, along with its subsidiaries, purchased 1,045 Bitcoin between March 24 and April 4, which was worth around $29.3 million at the time.

This means, the software company now holds around 140,000 BTC from an aggregate purchase price of around $4.7 billion, with an average purchase price of $29,803 per BTC.

With the maiden crypto seeing a 6.2% surge over the past 24 hours and trading at $30,108, this means that MicroStrategy is finally generating paper profit from its Bitcoin holdings, which are now worth approximately $4.17 billion.

With the leading cryptocurrency soaring 6.2% over the past 24 hours, and now trading hands at $30,108, this means that MicroStrategy's Bitcoin holdings are now worth more than $4.2 billion, generating the company with approximately $30 million paper profit.

Not only that, MicroStrategy's shares surged over 3% in pre-market trading after recording a 7.8% gain earlier this week.

The surge in the company's shares is being credited to the ongoing price rally of Bitcoin, which recently reclaimed its $30,000 price for the first time since June 2022.

Michael Saylor, one of the founders and chairman of MicroStrategy is a known Bitcoin maximalist, who despite heavy criticism of his BTC bet, remained unfazed and stayed optimistic that the maiden crypto would soon pick up its price.

"The Bitcoin price is set by those with more money and less knowledge than you. In time, they will get the knowledge and you will get the money," Saylor said in a tweet in May 2022 when BTC was trading with an average closing price of $31,830.00, showing a 15.7% loss for the month.

Following the price surge, Bitcoin saw a 0.41% loss over the past 24 hours and was trading down at $30,010.88 with a 24-hour volume of $17,212,887,120 as of 4:07 a.m. ET on Wednesday, according to the latest data from CoinMarketCap.

Bitcoin is Digital Energy - Michael Saylor at the MIT Bitcoin Expo 2-18 screenshot
Thirty-five years after graduating with the highest honors, Michael Saylor returns to his alma mater to headline the MIT Bitcoin Expo YouTube Screenshot/MicroStrategy Official YouTube Channel