MicroStrategyMicroStrategy’s CEO, Michael Saylor, garnered significant attention after amassing a staggering $1.2 billion in just three days following the Bitcoin boom. Saylor’s strategic investment decisions in Bitcoin have propelled MicroStrategy into one of the most prominent public companies in the cryptocurrency space.
His timely moves have not only enhanced the company’s financial standing but also solidified his reputation as a notable figure in the crypto investment realm. This achievement underscores the potential for substantial gains through strategic crypto investments, as exemplified by Saylor’s remarkable success.
Michael Saylor’s $1.2B Bitcoin win
Saylor and MicroStrategy have become the largest institutional holders of Bitcoins globally, having acquired 193,000 BTC since 2020. As a result of this enormous return, MicroStrategy is now one of the most significant public companies in the crypto industry.
A report submitted to the SEC indicates that MicroStrategy acquired an additional 3,000 Bitcoins at a cost of $155.4 million between February 15 and 25. Consequently, the portfolio comprised 193,000 Bitcoins, amounting to a cost basis of $31,544 per Bitcoin, or approximately $6.1 billion in total.
Saylor has made substantial profits on his investment as the value of Bitcoin has risen. On February 28th, Bitcoin was valued at $63,918 at its peak. Saylor’s position was valued at $12.3 billion at the time, which was over twice the amount he had purchased it for.
Additionally, between February 26 and 28, the price of Bitcoin increased by over 25 percent over the course of three days. Furthermore, MicroStrategy’s stock has increased by over 55% this week, surpassing $1,000 from less than $700.
Saylor possesses an exceedingly large stake in MSTR, amounting to over 2.4 million shares, in addition to possessing a minimum of 17,732 Bitcoins. The 25% increase in Bitcoin value resulted in $230 million in proceeds for Saylor, who owned 17,732 Bitcoins.
Saylor’s 2.4 million shares of MSTR stock experienced a 55% increase, resulting in a revenue of $984 million.
In just three days, the sum of the two amounts to an increase of more than $1.2 billion.
Although both of these gains remain unrealized, they nonetheless constitute a substantial increase in Saylor’s personal balance sheet. Saylor also sold a small number of his shares, but the amount was negligible in comparison to his total holdings.
With the appreciation of MSTR stock and Bitcoin, Saylor has amassed a total of more than $3.75 billion in holdings, a significant portion of which was acquired this week. His Bitcoin and MSTR holdings would place him in the top 900 individuals worldwide in terms of net worth, even before his other assets are factored in.
Saylor stated in an interview last week that “Bitcoin is the exit strategy” and does not foresee himself or MicroStrategy selling their Bitcoin holdings in the near future despite the remarkable gains.
It will be fascinating to see whether Saylor succumbs to the temptation to sell Bitcoin in the wake of its investments’ meteoric price increases or whether he maintains his ardent stance on the crypto.
A recent SEC filing indicates that MicroStrategy Inc., an enterprise analytics and mobility software provider, has disclosed an insider sale. On February 28, 2024, President and CEO Phong Le sold 10,000 shares of the company.
The transaction was completed at an average price of $966.33 per share, yielding a total value of $9,663,300.Phong Le has divested a cumulative sum of 60,000 shares of MicroStrategy Inc. during the preceding year without engaging in any new purchases of the stock.
This most recent transaction continues the company’s pattern of insider sales over the past year, which has seen 77 insider sales and no insider purchases.
As of the insider transaction date, MicroStrategy Inc. is valued at $18.316 billion in the market. The price-earnings ratio of the stock is 42.40, surpassing both the median for the industry at 28.125 and the company’s historical median of 42.125. This signifies a greater assessment compared to its industry counterparts and previous earnings multiples.
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