MicroStrategy's Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom – Yahoo Finance

MicroStrategy is a software and AI company that wants to rebrand itself as .The world’s first Bitcoin development company“Led by Chairman Michael Saylor, they are literally putting their money on the line. Saylor and MicroStrategy have acquired 193,000 Bitcoin since 2020, making them the world’s largest holder of BTC. With significant gains, MicroStrategy has become one of the most relevant publicly traded companies in the cryptocurrency space.

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according to Report filed with SEC, From February 15th to February 25th, MicroStrategy purchased an additional 3,000 Bitcoins at a cost basis of $155.4 million. This brings 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 the price of Bitcoin soared, Saylor’s investment made a huge profit. At its peak on February 28th, the price of Bitcoin reached $63,918. At the time, Mr. Saylor’s position was worth $12.3 billion, more than double the amount he bought it for.

Moreover, the price of Bitcoin increased by more than 25% in three days from February 26th to February 28th. On top of that, MicroStrategy stock is up over 55% this week, rising from less than $700 to well over $1,000.

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Saylor is MSTR’s largest shareholder; Holds over 2.4 million sharesholds at least 17,732 His own Bitcoin.

In other words, the 25% appreciation in Bitcoin resulted in a $230 million profit for Mr. Saylor’s personal stash of 17,732 Bitcoins.

In MSTR stock, Saylor’s 2.4 million shares increased 55%, resulting in a profit of $984 million.

Add these two together and you have a total increase of over $1.2 billion in just three days.

Although neither of these gains were fully realized, they still appear on Saylor’s personal balance sheet as a significant increase in assets. In addition, Mr. Saylor sold some of his stock, which was small compared to his total stock holdings.

The rise in the prices of Bitcoin and MSTR stock has brought Mr. Saylor’s total holdings to more than $3.75 billion, the bulk of which was revealed just this week. His BTC and MSTR holdings would put him in the top 900 people on the planet by net worth before considering his other assets.

Although the gains are impressive, Saylor said he does not expect to sell his or MicroStrategy’s Bitcoin holdings anytime soon.Bitcoin is an exit strategy” he said in an interview last week.

It will be interesting to see whether Saylor will be tempted to sell his investments given the large increase in price, or whether he will stick to his guns and remain bullish on Bitcoin.

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This article MicroStrategy’s Michael Saylor made $1.2 billion in three days after the Bitcoin boom originally appeared

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