tl;dr
MicroStrategy's Bitcoin investment has yielded a $6.66 billion profit, with gains of 79% over four years. Michael Saylor predicts Bitcoin will reach $13 million per coin by 2045. At $13 million per BTC, MicroStrategy's portfolio would be around $3 trillion. While Bitcoin's price remains significantl...
MicroStrategy's Bitcoin investment has yielded a $6.66 billion profit, with gains of 79% over four years. Michael Saylor predicts Bitcoin will reach $13 million per coin by 2045. At $13 million per BTC, MicroStrategy's portfolio would be around $3 trillion.
While Bitcoin's price remains significantly below its weekly highs, Bitcoin bulls like Michael Saylor, chairman of MicroStrategy, continue to boast staggering billion-dollar profits in their Bitcoin portfolios.
Data from a tracking portal shows MicroStrategy holds 226,331 BTC tokens, acquired for $8.37 billion over the last four years at an average of $36,990 per token. At Bitcoin’s current value of $66,282, this Bitcoin investment has yielded a profit of over $6.66 billion, representing an impressive 79% gain over four years. The profit ratio becomes even more remarkable when considering Bitcoin’s recent all-time high of $73,750.
Notably, MicroStrategy has been consistently purchasing Bitcoin almost every month since September 2020, when it first bought 16,797 BTC for $175 million. This initial Bitcoin acquisition is now worth over $1.11 billion, yielding a profit of $938 million, a 535% increase.
However, MicroStrategy has not purchased Bitcoin this month. Its most recent purchase occurred on June 20, when it acquired 11,931 BTC for $786 million after raising $500 million through a private offering of convertible notes. This Bitcoin investment has seen a profit of $4.81 million in just over a month.
The only investments where MicroStrategy is experiencing a loss are from acquisitions made during Bitcoin’s all-time high rally in March. The software company bought 19,245 BTC on March 11 and 19 for $1.44 billion at prices between $67,382 and $68,477. These investments are currently at a loss of over $36 million.
Notably, during his presentation at the 2024 Bitcoin Conference, Michael Saylor predicted that Bitcoin’s price would reach $13 million per coin by 2045. At this projected price, Bitcoin’s market cap would surpass 12 times the combined market caps of Gold ($16 trillion), Apple ($3.34 trillion), and Microsoft ($3.16 trillion). Specifically, Bitcoin would have a fully diluted market cap of $273 trillion at $13 million per coin.
Interestingly, at $13 million per BTC, MicroStrategy’s portfolio would be $2,942,303,000,000 (approx. $3 trillion), an investment originally bought with $8 billion.
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Market Cap: 9.15B
Current Price: $11.76
Price Change: $0.20
Change Percent: 3.46%
PE Ratio: 79.23
EPS: $0.0489
Revenue: 17.74B
EPS Estimate Current Year: $45.11
EPS Estimate Next Year: -$0.129
EPS Estimate Next Quarter: -$0.069
More about
Technical Analysis: Key Insights for Investors
In today's market analysis, we observed a significant breakout in the S&P 500 index, surpassing its previous resistance level of 3,000. This breakout suggests a potential continuation of the bullish trend, with the next resistance level anticipated around 3,200.
Additionally, the Relative Strength Index (RSI) for Apple Inc. stock indicates an overbought condition, signaling a potential reversal in its recent uptrend. Investors should closely monitor this as a reversal could lead to a corrective pullback in the stock price.
The 50-day moving average for Amazon.com Inc. stock has crossed above the 200-day moving average, forming a bullish "golden cross" pattern. This development suggests a strengthening bullish sentiment for the stock in the medium term.
Furthermore, the formation of a "head and shoulders" pattern in the chart of Exxon Mobil Corporation stock indicates a potential trend reversal from bullish to bearish. Traders should exercise caution and consider establishing protective measures to manage potential downside risks.