Michael Saylor’s Bitcoin Holdings Surge by $700 Million in a Week

Michael Saylor

MicroStrategy’s chairman and bitcoin evangelist, Michael Saylor, has seen a significant surge in his wealth this week, as his company’s shares jumped by 40% amidst bitcoin’s rally to its highest level since November 2021. Saylor’s strategy, built around bitcoin, has proven to be highly lucrative, with MicroStrategy’s stock prices soaring.

Built Around Bitcoin

MicroStrategy’s chairman and bitcoin evangelist, Michael Saylor, has seen a significant surge in his wealth this week, as his company’s shares jumped by 40% amidst bitcoin’s rally to its highest level since November 2021.

Saylor’s strategy, built around bitcoin, has proven to be highly lucrative, with MicroStrategy’s stock prices soaring. Saylor, who holds a 12% stake in MicroStrategy, also personally owns 17,732 bitcoins, contributing to his newfound wealth.

A Proxy for Bitcoin

MicroStrategy, known for its enterprise software and cloud-based services, has effectively become a proxy for the cryptocurrency market due to its significant bitcoin holdings. The company recently disclosed its acquisition of an additional 3,000 bitcoins, bringing its total holdings to about 193,000 bitcoins worth close to $12 billion.

Saylor’s unwavering commitment to bitcoin investment, outlined in the company’s mid-2020 announcement, has paid off tremendously, with MicroStrategy’s market cap skyrocketing from $1.1 billion to over $16 billion.

A Belief in Bitcoin’s Future

Despite the volatility in the cryptocurrency market, Saylor remains steadfast in his belief in bitcoin, emphasizing MicroStrategy’s position as “the largest corporate holder of bitcoin in the world” during the latest earnings call.

MicroStrategy’s shares have surged by 52% year-to-date after an impressive 346% gain in 2023, further solidifying Saylor’s status as a leading figure in the crypto investment space.

Author: Jinka

Jinka is a self-trained crypto journalist, passionate about happenings in the industry.