Saylor’s MicroStrategy added $2.1b in Bitcoin

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As a seasoned researcher with years of experience under my belt, I must admit that I am both intrigued and impressed by the strategic moves of Michael Saylor, the executive chairman of MicroStrategy. His bold decision to invest heavily in Bitcoin back in 2020 seems to have paid off handsomely, with an estimated $16 billion in unrealized profits.

According to executive chairman Michael Saylor’s confirmation, MicroStrategy purchased an extra 21,550 Bitcoins worth around $2.1 billion in cash from December 2nd to December 8th.

Through this recent transaction, MicroStrategy now owns a total of approximately 423,650 Bitcoin (BTC), which equates to around $41 billion. This latest purchase makes it the fifth week in a row that the company has added Bitcoin to its holdings, as reported on Dec. 9.

As reported by Saylor, MicroStrategy is believed to have invested approximately $25.6 billion into Bitcoin, with an average cost of around $60,324 per coin. According to Bitwise Europe‘s data, the pace at which MicroStrategy has been purchasing Bitcoin has noticeably increased in the year 2024.

MicroStrategy recently purchased approximately 21,550 Bitcoins, which amounted to about $2.1 billion, with each Bitcoin costing around $98,783. This move has resulted in a Quarter-to-Date (QTD) yield of 43.2% and a Year-to-Date (YTD) yield of 68.7%. As of December 8, 2024, they hold a total of 423,650 Bitcoins, acquired at a cost of approximately $25.6 billion, with each Bitcoin priced at around $60,324. This is the current state of affairs for MicroStrategy ($MSTR).

— Michael Saylor⚡️ (@saylor) December 9, 2024

In 2020, Saylor embarked on a bold Bitcoin investment approach that is currently projected to yield approximately $16 billion in potential earnings. As of December 9th, Bitcoin’s market price surpasses $98,900.

This $2.1 billion injection was a fraction of Saylor’s larger plan to scoop $42 billion worth of Bitcoin. MicroStrategy’s founder intends to execute this roadmap by 2027/2028. Riding on a multi-year BTC corporate euphoria, Saylor pushed other giants to adopt the Bitcoin standard. He pitched BTC to the Board of Directors at Microsoft, a $3 trillion heavyweight.

Leading figures in the cryptocurrency sector, such as Brian Armstrong (CEO of Coinbase) and Changpeng Zhao (former Binance), have urged governments and influential entities to consider investing in Bitcoin. Armstrong recommended that sovereign nations should gravitate towards Bitcoin as a means of shielding themselves from inflation, while Zhao proposed that Amazon might strengthen its financial position by integrating Bitcoin into its assets and payment options, in response to shareholder demands.

Investing $100 in Bitcoin at Coinbase’s launch in June 2012 would have grown to approximately $1.5 million by now. Compare that to the same amount today only having the purchasing power of around $73. Bitcoin, being the top-performing asset over the past 12 years, is still showing promising potential for future growth.

— Brian Armstrong (@brian_armstrong) December 5, 2024

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2024-12-09 17:55