MicroStrategy Shares Soar 674% Thanks to Bitcoin Investment

Saylor’s capital is largely made up of the businessman’s 11.9% stake in MicroStrategy. At the beginning of 2024, its stock was worth about $1.3 billion, Business Insider notes.

Sailor is one of the main Bitcoin evangelists among entrepreneurs whose business is not directly related to cryptocurrencies. In an interview with CNBC in September, he said the price of the token could reach $13 million by 2045. “Bitcoin now represents 0.1% of global capital. I think it will reach 7%,” said the MicroStrategy co-founder.

His company has invested tens of billions of dollars in Bitcoin in recent years. On November 18, MicroStrategy announced its largest cryptocurrency purchase: it bought around 51.7 thousand bitcoins for approximately $4.6 billion.

The number of tokens in the MicroStrategy account reached 331.2 thousand. Its total value, as of 21:07 Moscow time, amounted to more than 31 billion dollars. Thanks to Bitcoin’s rapid growth in recent months, MicroStrategy has surpassed Nike, IBM, and Johnson & Johnson. in terms of financial assets, Bloomberg noted.

MicroStrategy, founded in 1989, develops solutions in the field of business analytics, mobile software and cloud services. The decision to buy bitcoins, made in August 2020, proved fateful for the company. At its lowest point in June 2002, its shares were worth $0.49 each, and at its highest point on Wednesday, November 20, they were trading at $499.35.