According to CNBC, MicroStrategy founder Michael Saylor has earned a huge amount of $370 million from selling 370,000 Class A shares since January this year. Speculation in the community suggests that he may use this capital to continue buying Bitcoin.
Summary:
MicroStrategy’s purchase of Bitcoin has resulted in a 750% increase in stock price. Will investing in BTC become a global trend for corporations?
Background:
MicroStrategy’s bearish investors have suffered losses of nearly 2 billion pounds since March.
Table of Contents:
1. Michael Saylor Earns $370 Million Selling MicroStrategy Shares
2. MicroStrategy Stock Increases More Than 7 Times in 5 Years
3. Will Michael Saylor Continue Buying Bitcoin?
With the bull market of Bitcoin, MicroStrategy, the leader in Bitcoin holdings among US-listed companies, has seen its stock price surge from $685 to $1,201 since the beginning of the year, outperforming tech companies such as Apple and Tesla.
Michael Saylor Earns $370 Million Selling MicroStrategy Shares
In this context, according to a CNBC report on the 19th, MicroStrategy founder Michael Saylor has earned $372.7 million in revenue from the sale of 400,000 Class A MicroStrategy shares, as part of a stock selling plan he signed with the company last year, which allowed him to sell his 400,000 shares from January to the end of this month.
MicroStrategy Stock Increases More Than 7 Times in 5 Years
Originally a technology company providing data analysis, software development, and cloud computing, MicroStrategy’s main business was not outstanding and did not generate significant profits.
However, since August 2020, Michael Saylor announced that MicroStrategy will continue to invest in Bitcoin, and its stock price has soared along with the development of Bitcoin. In the past 5 years, it has surged from $140 to over $1,200, an increase of 709%. Therefore, Michael Saylor’s substantial gains from his stock can be attributed to the bull market of Bitcoin.
Source: Google Finance
Will Michael Saylor Continue Buying Bitcoin?
As a Bitcoin enthusiast, Michael Saylor continues to buy Bitcoin. According to current data from bitcointreasuries, MicroStrategy has spent $7.533 billion to purchase 214,246 BTC. When Bitcoin surpassed $70,000 earlier this month, the highest floating profit in the account reached $7.647 billion.
At the same time, Michael Saylor has repeatedly stated, “I will never sell any Bitcoin” and “Buying Bitcoin is an exit strategy.” Therefore, some speculate that he may continue to use the massive funds from selling his shares to buy more Bitcoin.
However, Michael Saylor himself has not made any statements regarding the use of these funds, and the specific situation is worth our continued attention.
Further reading:
Michael Saylor: Insisting on Buying Bitcoin “Never Selling”! MicroStrategy’s BTC holdings have nearly $4 billion in floating profit.
Related Reports
Following MicroStrategy, Metaplanet in Japan promises to buy 1 billion yen worth of Bitcoin, causing stock prices to surge by 89%.
Long on Bitcoin but short on MicroStrategy! Kerrisdale Capital causes MSTR to plummet by 11%. What is the reason?
Bitcoin breaks through $72,000! MicroStrategy doubles down with a $820 million purchase of 12,000 BTC.