Michael Saylor, the CEO of MicroStrategy, made a bold move by investing in Bitcoin. Many believed it would be the end of his career, but it turned out to be a lucrative decision. According to documents filed with the Securities and Exchange Commission, Saylor has earned $370 million this year alone by selling company shares through a stock sale plan that was established in 2013.
In addition to these profits, Saylor’s personal portfolio has also seen significant gains. With his MicroStrategy shares and Bitcoin holdings, his net worth has increased by approximately $3.49 billion since the start of the year. This is a gain of 60%, or over $1 billion. Since 2023, when the cryptocurrency market began to rebound, his paper gains have reached $3 billion.
The success of MicroStrategy’s stock is also worth noting. Since the start of 2021, the company’s shares have risen by 86%, with a significant increase in price after the launch of exchange traded funds that track tokens. However, on Monday, the price of MicroStrategy’s shares saw a slight decrease of 2.8%.
Saylor was once a skeptic of cryptocurrency, but he has now become a believer and has used MicroStrategy as a way to profit from Bitcoin’s success. Over the past four years, the company has made significant purchases of the cryptocurrency, sometimes using leverage. In 2020, Saylor made headlines when MicroStrategy became the first publicly traded company to purchase Bitcoin, investing $250 million to acquire 21,454 tokens.
MicroStrategy, which has more than 214,000 employees, holds approximately 1% of all Bitcoins in circulation. At the current price of $64,000 per Bitcoin, the company’s holdings are worth around $13.7 billion. As Saylor owns 12% of the company’s shares, his personal stash of over 17,000 Bitcoins adds approximately $4 billion to his net worth, according to Forbes.
Despite his success, Saylor has faced challenges in the past. During the dot.com boom, MicroStrategy’s revenue was found to be 25% lower than originally claimed, resulting in a $6 billion loss in one day. Saylor was also charged by the SEC for violating federal security laws, but he settled the charges for $8 million without admitting guilt.
Some analysts and investors initially thought Saylor’s decision to invest in Bitcoin was crazy. However, he remained dedicated to his strategy and even stated in a 2022 interview with Fortune that it was the best way to “eat gold,” which is typically seen as a store of value.
Although MicroStrategy’s approach initially faced criticism, it has ultimately proven to be successful. However, it remains to be seen how the company will fare in the long run, especially with the recent approval of ETFs that perform a similar function as MicroStrategy. But Saylor remains confident in his decision, stating that he can borrow $1 billion at a low interest rate to invest in his best idea.
