Michael Saylor – the CEO of MicroStrategy, the famed software company that has been one of bitcoin’s biggest institutional fans for more than a year – revealed that he has a huge personal bitcoin stash nearing $900 million.
MicroStrategy and Michael Saylor Are the BTC Kings
MicroStrategy first made headlines in August of 2020. The company purchased approximately $250 million in bitcoin, the world’s number one digital currency by market cap. This was at a time when BTC was trading in the low $12,000 range and experiencing the highest levels of bullish activity it had seen in nearly a year.
From there, the price of bitcoin fell into the $10,000 range in what was arguably a bearish September. However, while most people probably would have sold and chalked up their losses on a board, it turns out that MicroStrategy had other plans. Instead, the company decided to buy more, and it added roughly $150 million in BTC to its stash, bringing the total at that time to more than $400 million.
This decision proved positive in that just a month later, PayPal would announce it was going to begin allowing customers to take advantage of the platform’s new cryptocurrency-based services and tools. Individuals would be allowed to purchase, trade, and sell bitcoin and other cryptocurrencies. This caused the BTC price to shoot up to a whopping $13,000 – quite high for the time – and MicroStrategy saw its stash explode in price.
The company has continued to invest on a regular basis from there, but while we all knew that MicroStrategy had quite a stash, what we didn’t know was that Saylor – the man in charge of the company – had also been investing on a personal level and has quite a bit of BTC to his name at the time of writing. It is believed that he has as much as $866 million in bitcoin.
In addition, he has no intention of selling any of his bitcoin, nor does he advise anyone else to do so. He is confident that bitcoin will be the ultimate financial tool of the future, and he’s confident that staying invested – at least for the time being – will be a positive decision. In fact, he has commented that he feels bitcoin could potentially reach a price of roughly $6 million per token in the coming future. That’s a jump of more than 12,000 percent from where it’s trading right now.
A Regular Thing?
Saylor has a history of taking chances with his money and investing in new trends. For example, he famously lost $6 billion in a single day due to bad investments when the dot-com bubble was at its peak. However, he has since garnered a reputation for being the “king of electric money.”
In the meantime, MicroStrategy itself holds more than 122,000 bitcoin units, which are estimated to be worth $6 billion at press time.
Source: Read Full Article