As a seasoned analyst with over two decades of experience in the financial markets, I find myself thoroughly intrigued by Michael Saylor and MicroStrategy’s bold Bitcoin bet. Having witnessed numerous market cycles and trends, I must admit that the audacity to accumulate such a substantial amount of BTC is nothing short of breathtaking.
Michael Saylor, a well-known Bitcoin advocate and head honcho at MicroStrategy, a leading business software company, used his Twitter platform (X account) to share a fresh post highlighting the substantial returns on investment in Bitcoin that his firm has earned through strategic long-term holding of BTC.
On Twitter, Saylor expressed excitement about the significant increase in the value of the world’s most prominent cryptocurrency, suggesting that investors in MSTR could anticipate substantial daily profits as a result.
$544 million in Bitcoin profits each day for the week
Last week, Michael Saylor shared that MicroStrategy’s Bitcoin-focused treasury operations generated a yield of around 12.3% in Bitcoin. This equates to approximately 40,738 Bitcoin being distributed to MicroStrategy shareholders, which is equivalent to about 5,820 Bitcoin per day as returns on their MSTR shares.
The significant surge in Bitcoin occurred a few days prior, on a day before last Thursday. Initially, it soared to an impressive $93,500 and continued climbing, eventually reaching its latest record high at approximately $99,655 by Friday. As the price of Bitcoin exceeded $93,500, MicroStrategy’s CEO announced that the Bitcoin earnings for shareholders would generate a staggering $3.8 billion in just one week, which translates to an impressive $544 million per day due to the swift increase in Bitcoin’s price.
Over the past seven days, my research reveals that Mastercard’s treasury operations have generated a staggering 12.3% yield from Bitcoin. This translates to approximately 40,738 Bitcoins added to our shareholders’ coffers, which equates to around 5,820 Bitcoins per day. Given the current price of $93,500 per Bitcoin, this weekly gain amounts to a whopping $3.8 billion, or approximately $544 million daily.
— Michael Saylor⚡️ (@saylor) November 27, 2024
According to U.Today, on November 25th, the company revealed a massive purchase of 55,500 Bitcoins worth around $5.4 billion. Just a few weeks earlier, on November 8th, MicroStrategy shocked the crypto community by buying $4.6 billion in Bitcoin. This means that over recent times, the company has amassed an astounding $10 billion worth of Bitcoin. They now own a total of 386,700 Bitcoins valued at approximately $21.9 billion.
In a recent comment, Saylor defended his company’s Bitcoin bet, responding to the venture capitalist Jason Calacanis, who likened MicroStrategy’s BTC strategy to “meme stock madness” and questioned why would anyone like to buy an 80 cent worth of Bitcoin for $1, referring to MSTR. Saylor responded, saying that Bitcoin “represents the digital transformation of capital” and MicroStrategy is helping to accelerate this transformation.
Bitcoin kicked back from under $100,000
Today, Bitcoin has experienced significant growth, climbing from approximately $90,990 to $94,690 in the past 24 hours, representing a rise of over 4%. This surge comes after a steep 8% drop on Monday and Tuesday, which saw Bitcoin losing its $98,990 price point.
Following Bitcoin hitting an all-time high of approximately $100,000 on Friday, it has experienced a drop of around 5%, taking into account the recent upturn we’ve seen today.
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2024-11-27 18:19