MicroStrategy has remained the top Bitcoin accumulator in the corporate world. While other big businesses shy away from openly investing in this digital gold, MicroStrategy has been vocal about it.
Bitcoin analyst, Dylan LeClair, in an interview on CNBC, explained that the corporate world does not understand MicroStrategy’s plan to keep investing in Bitcoin, even though the plan has been successful so far.
This interview comes just days after MicroStrategy bought an additional 14,620 BTC for $615 million, bringing their total Bitcoin holdings to 189,150 BTC. This stash’s value currently stands at $8.11 billion.
Microstrategy has had a staggering success just because Michael Saylor decided to go the way of Bitcoin. He believes that Bitcoin is the most salable money across time and space.
The software and data intelligence company was only valued at $1 billion in 2020, but over three years of consistently investing in Bitcoin, the valuation has skyrocketed up to $11 billion.
On December 27, 2023, MicroStrategy shares (MSTR) hit a new yearly high of $624.78 after the news of their latest Bitcoin purchase broke on the internet.
MSTR soared 337% in 2023, outshining NVIDIA, Meta, and many other native American companies.
As of the market close on January 4, 2023, MSTR was trading at $685.15 per share, an 8.48% increase in the past 24 hours.
MicroStrategy May Become the Most Profitable Company in the World, Overtaking Tesla
The most profitable company in the world since the COVID-19 pandemic was Tesla, whose current market capitalization is 756.36 billion . If MicroStrategy keeps on increasing its stash before the bull market begins, it is possible it can topple Tesla before this bull cycle is over.
Tesla.
In the thick of the bear market (2022), Tesla offloaded the bulk of its Bitcoin holdings but CEO Elon Musk said the decision was not a “verdict” on the digital currency. Tesla revealed it offloaded approximately 75% of its Bitcoin between April 1 and the end of June.
Now that Tesla is largely out of the Bitcoin game, MicroStrategy’s BTC accumulation plan might just be the play that makes Michael Saylor the market mover.
MSTR share price is expected to go up as Bitcoin popularity increases, especially after the Bitcoin ETF is approved.