As a seasoned financial analyst with over two decades of experience, I find myself constantly intrigued by the dynamic world of cryptocurrencies, and Bitcoin in particular. The recent revelation from Michael Saylor, the charismatic executive chairman of MicroStrategy, has once again piqued my interest. His statement that all companies building Bitcoin reserves are essentially competing for the daily production of Bitcoin mined by miners is a fascinating perspective.
On a popular social media platform, Bitcoin advocate Michael Saylor shared a significant message with the Bitcoin community, explaining the common objective behind businesses accumulating Bitcoin reserves and creating Bitcoin ETFs – it’s all about influencing the daily production of Bitcoin.
Saylor makes Bitcoin revelation
Saylor’s communication made clear that each of the mentioned parties are striving to acquire the day-by-day Bitcoin generated through mining. MicroStrategy’s founder and chairman, as expressed on Twitter, stated, “We’re all vying for approximately $45 million in Bitcoin mined daily.
We are all competing for $45m in #Bitcoin mined daily.
— Michael Saylor⚡️ (@saylor) December 13, 2024
Interestingly, this week, a notable supporter of Bitcoin and maximalist, the CEO at JAN3, Samson Mow, stated his belief that miners will soon stop selling the Bitcoin they produce. He advised investors to brace themselves for this development and strategize their Bitcoin purchasing sensibly in response.
This week, Saylor responded to a cautionary tweet about Bitcoin from Binance‘s founder, Changpeng Zhao. In his tweet, CZ emphasized that over 19 million Bitcoins out of a total 21 million have already been mined. Saylor then stated that the cryptocurrency market is nearing exhaustion in terms of Bitcoin supply.
Michael Saylor highlights MSTR surpassing Bitcoin’s growth
Earlier today, MicroStrategy’s Executive Chairman posted a tweet featuring an infographic displaying the yearly performance of assets from the last 4 years on their Saylor account.
$MSTR is powered by #Bitcoin.
— Michael Saylor⚡️ (@saylor) December 12, 2024
In that graph, MicroStrategy’s stock outperformed not just Bitcoin but also the likes of the S&P 500 and the Magnificent 7. Interestingly, while MicroStrategy (MSTR) saw a staggering growth of 124%, Bitcoin managed a 64% increase. The Magnificent 7 experienced a rise of 31%, and the S&P 500’s surge amounted to 15%. Real estate prices inched up by 10%, while gold saw an increment of 7%. Conversely, bonds took a hit, falling 5% into the negative zone.
MicroStrategy’s growth can be attributed to two key factors: firstly, the company’s consistent purchases of Bitcoin since August 2020, and secondly, the issuance of senior convertible notes, which have enabled it to secure billions of dollars. These funds have then been utilized to purchase even more Bitcoin.
Currently, our company owns approximately 2% or 423,650 Bitcoins out of the entire 21 million in circulation. This amount is roughly equivalent to $41.5 billion.
Initially, Bitcoin experienced a dip of 3.14%, plummeting from approximately $102,530 to around $99,315. However, it soon saw a minor recovery, pushing the leading cryptocurrency back up to $100,700.
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2024-12-13 19:05