IMPORTANT POINTS:
- MicroStrategy CEO Michael Saylor is an ardent Bitcoin advocate and investor. But how has he fared?
- The firm today owns 193,000 BTC worth approximately $12,159 million.
- Last Monday, the company acquired an additional 3,000 BTC purchased at an average price of $51,600 per token.
Michael Saylor is a renowned Wall Street entrepreneur, founder of MicroStrategy, and a Bitcoin advocate.
For many years, and even in bearish times, Saylor has supported the leading cryptocurrency and never stopped accumulating coins.
In one of his latest appearances in the media, the millionaire has highlighted that investment in Bitcoin is crucial to ensure financial stability at a business level.
Saylor’s strategy with Bitcoin was always to accumulate and bet for the long term. Furthermore, he never revealed whether he would ever sell his holdings.
The truth is that this adopted pattern has brought him enormous economic benefit, not only for him but also for his own company.
Saylor’s profits thanks to Bitcoin
Due to its large investment in BTC, MicroStrategy also fluctuates in correlation with the world’s most popular cryptocurrency.
This caused the firm’s shares to skyrocket by 90% in February alone, a truly incredible and unusual figure. Additionally, Saylor admitted in 2020 that he owned about 17,732 BTC in his personal account.
If we add it all up, Saylor became $700 million richer (approximately) just in three days, when BTC went from $51,000 to the almost $63,000 it is trading at today.
To understand how lucrative his Bitcoin bets were, let’s look at the last token purchase Saylor made on behalf of MicroStrategy.
On Monday, it was reported that the company purchased 3,000 BTC for a total of $155 million between February 15 and 25. That leaves the average purchase price at $51,666. That same investment today is valued at 189 million dollars, that is, a profit of 34 million dollars.
On the other hand, the firm today owns 193,000 BTC for an approximate value of 12,159 million dollars.
