Michael Saylor: MicroStrategy Reports Earning $500 Million Daily from Bitcoin
MicroStrategy Inc. co-founder Michael Saylor recently shared some amazing news – the company is raking in $500 million a day as the price of Bitcoin climbs towards $100,000 for the first time ever. Saylor, a long-time supporter of Bitcoin, shared that MicroStrategy’s investment in the cryptocurrency has increased by a whopping $5.4 billion in just the past two weeks.
In an interview with CNBC, Saylor explained, “We’re making $500 million a day. I’m staring at my screen and we’re selling dollar bills for $3, sometimes a million times a minute.” To give you an idea of how impressive this is, MicroStrategy’s stock has surged by 97% in the last month, while Bitcoin itself has seen a 47% increase. Throughout the year, MicroStrategy’s stock has jumped over 515%, compared to Bitcoin’s 122% increase, and Nvidia’s stock price has risen by nearly 195%.
With MicroStrategy’s stock climb not just reflecting Bitcoin’s value but also showcasing the company’s strategic focus on the cryptocurrency, it’s clear that there’s a lot at play here. Research has shown that MicroStrategy is currently trading at a 256% premium to the actual value of its Bitcoin holdings, indicating that there’s a significant demand for exposure to cryptocurrencies through the company.
Saylor’s ambitious prediction that Bitcoin could hit $13 million by 2045 has sparked conversations about the potential economic impact, including discussions about massive hyperinflation. If this prediction does come to fruition, Bitcoin’s market cap would skyrocket to $250 trillion, overshadowing the current world GDP and global stock markets.
Notably, Saylor has also criticized Warren Buffett’s decision to hold $325 billion in cash at Berkshire Hathaway, arguing that not investing in Bitcoin is a missed opportunity. With all these developments, it’s clear that the world of finance is evolving, and companies like MicroStrategy are at the forefront of this exciting shift.
