HomeBusinessMichael Saylor of MicroStrategy made $1.2 billion in three days of the...

Michael Saylor of MicroStrategy made $1.2 billion in three days of the Bitcoin boom

Although MicroStrategy is a software and AI company, they hope to transform themselves into “the world’s first Bitcoin development company.” Under the leadership of chairman Michael Saylor, they literally put their money where their mouth is. Saylor and MicroStrategy have acquired 193,000 Bitcoins since 2020, making them the largest institutional holder of BTC in the world. This investment has paid off immensely, making MicroStrategy one of the most relevant publicly traded companies in the crypto space.

Do not miss it:

According to a report filed with the SEC, MicroStrategy purchased an additional 3,000 Bitcoins from February 15 to 25 for a cost base of $155.4 million. This brought the entire portfolio to a total of 193,000 Bitcoins, with a cost basis of $31,544 per Bitcoin, or a total of just under $6.1 billion.

As Bitcoin has risen in price, Saylor’s investment has seen huge gains. At its peak on February 28, Bitcoin reached a price of $63,918. At the time, Saylor’s position was worth $12.3 billion, more than double what he bought for it.

See also  Super Micro Computer Stock Analysis: Financial Statement Series

Moreover, the price of Bitcoin increased by more than 25% during the period from February 26 to 28. Additionally, shares of MicroStrategy are up more than 55% this week, from under $700 to over $1,000.

Trending: Big Crypto Boom and Reverse Interest as BTC Skyrockets – Has Apple Vision Pro Increased Demand for Virtual Real Estate?

Saylor is MSTR’s largest shareholder, owning more than 2.4 million shares, and owning at least one 17,732 His own Bitcoins.

So the 25% gain on Bitcoin yielded a profit of $230 million on Saylor’s personal stash of 17,732 Bitcoins.

As for MSTR stock, Saylor’s 2.4 million shares grew 55%, generating a profit of $984 million.

When you add these two together, you get a total increase of over $1.2 billion in just three days.

While none of these gains are fully realized, they still show up on Saylor’s personal balance sheet as a huge increase in assets. In addition, Saylor sold some of his shares, but that was a drop in the ocean compared to his total holdings.

See also  DJT Stock Hits Tough Week for Trump Media

The rise in the price of both Bitcoin and MSTR stock brings Saylor’s total holdings to more than $3.75 billion, much of which was realized just this week. His BTC and MSTR holdings would put him in the top 900 people on Earth in terms of net worth before he would even consider his other holdings.

While the gains are impressive, Saylor doesn’t see himself or MicroStrategy selling off their Bitcoin holdings anytime soon. He said in an interview last week that “Bitcoin is the exit strategy.”

It will be interesting to see if Saylor is tempted to sell after the huge price increases for his investments, or if he sticks to his guns and remains bullish on Bitcoin.

Read next:

“SECRET WEAPON OF ACTIVE INVESTORS” Boost your stock market game with the #1 trading tool for “news & everything else”: Benzinga Pro – Click here to start your 14-day trial now!

See also  Convenience store chain where Biden bought snacks while campaigning was sued for discrimination

Want the latest stock analysis from Benzinga?

This article MicroStrategy’s Michael Saylor Made $1.2 Billion in 3 Days After Bitcoin Boom originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments