Bitcoin surge winner! Michael Saylor's net worth surges by US$700 million, MicroStrategy's stock price follows suit

This morning, the price of Bitcoin once soared to US$64,000, setting a new high since November 2021 and only one step away from the historical high of US$69,000. As Bitcoin continues to soar, the stock price of MicroStrategy, the listed company with the largest Bitcoin holdings in the world, rose 10.46% on Wednesday and has soared 40% so far this week.

MicroStrategy BTC holdings status

MicroStrategy invested a total of US$6.08 billion in buying Bitcoin. The latest move was to spend US$155 million to add 3,000 Bitcoins in February.

Currently holds about 193,000 Bitcoins worth $11.8 billion, which means the company’s Bitcoin floating profit has surged by about $5.77 billion.

The founder of MicroStrategy made a huge profit of US$700 million on the 3rd

CNBC reported that as the price of Bitcoin soared and the stock price of MicroStrategy soared, MicroStrategy Founder and Executive Chairman Michael Saylor's wealth increased by approximately $700 million in just 3 days.

Michael Saylor is the largest investor in MicroStrategy, holding about 12% of the company’s shares. He also revealed in 2020 that he personally holds 17,732 Bitcoins. Based on this calculation, his net worth has increased from the beginning of this week of US$2.27 billion climbed to US$2.96 billion.

MicroStrategy announced plans to invest in Bitcoin in mid-2020, with the firm saying during an earnings call that year that it would invest $2.5 in "one or more alternative assets" over the next 12 months. billion, which may include digital currencies such as Bitcoin. At that time, the company's market value was approximately US$1.1 billion, and it has now exceeded US$16 billion.

Michael Saylor has previously mentioned the importance of the listing of Bitcoin spot ETFs, saying that the demand for Bitcoin ETFs has been suppressed for ten years. Now mainstream investors can finally have access to Bitcoin, which promotes ETFs. With the massive inflow of funds, the demand for Bitcoin from ETFs is 10 times the supply that miners can provide, making spot ETFs a major force supporting the rise of Bitcoin.

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