According to a report by CNBC, Michael Saylor, the founder and chairman of MicroStrategy, a publicly traded company in the United States, saw his net worth increase by approximately $700 million after the company’s stock and the price of Bitcoin rose for three consecutive days.
Bitcoin (BTC) began a three-day rally on Monday evening (26th) Taiwan time, with its price surging from around $51,250 all the way up to nearly $64,000, representing a increase of over 20%. As of the deadline, the trading price of Bitcoin was $62,750.
Most of MicroStrategy’s value comes from its holdings of Bitcoin, and its stock price surged by 10% on Wednesday (28th), resulting in a three-day increase of 40%. Saylor is the largest investor in MicroStrategy, owning 12% of the company’s shares. In 2020, he also disclosed his personal holdings of 17,732 Bitcoins.
After the significant increase in the value of Bitcoin and MicroStrategy stock this week, the value of Saylor’s assets rose from $2.27 billion at the beginning of the week to $2.96 billion on Wednesday. A spokesperson for MicroStrategy stated that the company does not comment on Saylor’s personal financial situation.
In December of last year, Saylor discussed Bitcoin on a CNBC program, stating that he is one of the main advocates for Bitcoin. He founded MicroStrategy in 1989, with its main business involving enterprise software and cloud-related services. The company’s stock price rose by 346% in 2023, and the year-to-date increase has reached 52%.
On Monday, MicroStrategy announced that it had made additional purchases of 3,000 Bitcoins at an average price of $51,813 between February 15th and February 25th this year. As of February 25th, the company held a total of 193,000 Bitcoins (worth about $12 billion), with an average purchase price of $31,544.
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