A decade in the past, MicroStrategy CEO Michael Saylor expressed skepticism about Bitcoin, warning about attainable regulatory threats.
On Dec. 7, 2013, Saylor wrote:
“Missing a reputable sponsor, #Bitcoin is in imminent hazard of being regulated out of existence.”
Within the decade since, not solely has Bitcoin not been regulated out of existence, however it has thrived, changing into the fastest-growing asset class of the twenty first Century. Saylor, to his credit score, was paying consideration, and he subsequently steered his agency into changing into one of many largest Bitcoin whales on this planet.
MicroStrategy, a acknowledged chief in enterprise analytics and mobility software program, pivoted to Bitcoin investing in 2020 and has not seemed again. Throughout Q3 2023, the agency added 6,067 Bitcoins to its portfolio, bringing its complete to 158,400 BTC. The agency spent an estimated $167 million on the acquisition, reflecting a median worth of $27,531 per Bitcoin.
MicroStrategy’s Bitcoin acquisition technique didn’t cease there. By the tip of November 2023, the agency had collected 174,530 BTC, equating to just about 1% of Bitcoin’s circulating provide.
The aggressive acquisition technique appears to have paid off. With the present Bitcoin worth hovering round $37,700, MicroStrategy’s Bitcoin portfolio is now value greater than its preliminary buy worth, leading to a revenue margin of roughly $1.3 billion. This exceptional profitability indicator showcases the potential of Bitcoin as an asset class, even amidst market fluctuations.
Along with constructing a considerable Bitcoin portfolio, MicroStrategy is exploring Bitcoin-related companies. The agency introduced the event of an enterprise plugin for Bitcoin’s Lightning Community in 2022, highlighting its dedication to integrating and leveraging Bitcoin expertise in its enterprise operations.
From expressing issues over Bitcoin’s regulatory outlook to changing into one among its largest institutional buyers, MicroStrategy’s journey mirrors the evolving dynamics within the crypto market and emerged as one among its most profitable gamers.
