MicroStrategy’s Michael Saylor is Now in Almost $2 Billion Profit From Bitcoin Holdings – Will He Sell?

Business intelligence company MicroStrategy (MSTR) is nearly $2 billion in profit on its Bitcoin (BTC) holdings since it began investing in the digital asset over three years ago.

The firm’s laser-eyed owner and founder, Michael Saylor, has publicly documented all of MicroStrategy’s BTC purchases since August 2020.

Per his latest update on X last Thursday, the company “now hodls 174,530 BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin.”

Bitcoin’s current price is $41,600, meaning the company’s investment is up 37% overall. That means its total worth is now $7.26 billion, equating to $1.98 billion in still unrealized profits.

Michael Saylor’s phone actually looks like this pic.twitter.com/2SVgi0yLq0

— zkmule 🐴 (@0xmule) December 3, 2023

According to saylortracker.com, Saylor has announced 29 separate BTC purchases since August 2020, when his company first bought 21,454 BTC for an estimated price of $11,652 each. A month later, the firm acquired another 16,796 BTC for $10,496 each.

The gains from those buys have helped outweigh the losses from some of the firm’s less fortunately timed purchases, including a 7002 BTC acquisition for $414 million in November 2021, which is still 29% in the red.

MicroStrategy’s HODL Strategy

Despite Bitcoin’s highs and lows, MicroStrategy hasn’t sold any of its BTC since its investment journey began (aside from a relatively small sale of BTC in late December for tax purposes, which was repurchased days later.)

As echoed in many interviews, Saylor favors “HODLing” Bitcoin over trading or timing the crypto market. According to MicroStrategy’s Q3 financials, one of the company’s primary corporate strategies is to “acquire and hold bitcoin, which we view as a dependable store of value supported by a robust, public, open-source architecture untethered to sovereign monetary policy.”

The company’s current method for amassing new BTC appears to be stock issuance, with which it last raised $600 million to buy over 16,000 coins. Some have compared his tactics to that of an unofficial Bitcoin spot ETF, though an actual version of the product is expected for approval in the United States next month.

Back in 2020, Saylor also disclosed that he personally owns 17,732 BTC acquired for $9,882 each. Assuming he’s held onto those coins, that investment is now up 320%.

Between his personal and corporate stacks, the billionaire now controls nearly 1% of all BTC in circulation.