Michael Saylor Bet Billions on #Bitcoin and Keeps Winning
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MicroStrategy had a market cap of $1.3b when it first bought bitcoin on the 11th of August, 2020.
This kicked off a Bitcoin buying spree that has seen the company spend $5.98 BILLION accumulating 190,000 $BTC
To date this is the single largest corporate treasury holding of Bitcoin.
The 190,000 Bitcoin acquired for $5.98b is currently worth $9.96b.
Profit so far = $3.98b
Starting market cap = $1.3b
‼️Unrealised profit is 3x bigger than the entire market cap of MSTR before it bought bitcoin.
It's market cap now is up more than 9x at $11.94b.
When Bitcoin hits $100K USD, MicroStrategy's profit on its current Bitcoin holding will be worth £13.58 BILLION.
More than 10x its market cap from when it first started buying Bitcoin.
#Winning 🤑
JUST IN: The 9 new Bitcoin ETFs now hold 258,770 $BTC in total, buying an average of ~10,000 #Bitcoin a day.
This is about 11x the daily issuance from the block reward.
CHART: Daily number of Bitcoin acquired by ETFs net of GBTC outflows.
