Michael Saylor, who is the CEO of MicroStrategy and one of the biggest bitcoin supporters in the world is one the loudest. As a CEO, he has been an avid supporter of digital assets and holds both a professional as well personal stake.
Saylor revealed that he has over 17,000 bitcoins in 2020. Saylor stated that bitcoin traded below $30,000 at the time and that his entire holdings could be purchased on an average for $9,882. Bitcoin has since grown over 100% since the CEO made his big reveal, pushing the value of Saylor’s holdings to almost $1 billion.
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How Much Is Saylor’s BTC Worth?
The Information was informed by Michael Saylor that he doesn’t believe anyone should ever sell their bitcoins and has never actually sold bitcoin. He plans to publish his 2020. revealAccording to him, $17.732 BTC total was what he owned. All of this he bought before MicroStrategy had acquired its first Bitcoin. At an average trading price of $13,900, Saylor’s holdings were worth a little over $246 million.
“Some have asked how much #BTC I own. Personally, #hodl 17732 BTC I bought for $9882 an average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.”
Bitcoin now trades at a significantly higher level than when Saylor made his major reveal. It reached $69k peak. BTC currently trades at $48,000. At this present value, the CEO’s bitcoin holdings are now worth over $850 million.
Source: BTCUSD on TradingView.com| Source: BTCUSD on TradingView.com
These coins will be kept by the CEO as he thinks bitcoin could reach $6 million per coin. According to the CEO, the cryptocurrency will continue growing at 12,000% per year.
What amount of Bitcoin does MicroStrategy own?
MicroStrategy has the highest bitcoin holdings among public companies. In 2019, MicroStrategy began accumulating bitcoin. It has now acquired 122 478 bitcoins since its last purchase. This brings the total of its bitcoin holdings up to $6.1 million. The average cost of all its BTC was $29,861, which puts the company in profit.
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But, the CEO of MicroStrategy had already started buying bitcoins before the company. Saylor said that he owned all of his Bitcoin before MicroStrategy purchased its first bitcoin. Additionally, his personal possessions convinced the company that it was time to start investing in digital assets.
As its CEO said, the company does not intend to sell BTC. It has instead begun to look for new ways of generating yield from its investment. Saylor presented this information at an investor conference last week.
Featured image taken from Business Insider. Chart by TradingView.com