MicroStrategys Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom

Though MicroStrategy is a software and AI company, they are hoping to rebrand themselves into the "the world's first Bitcoin development company". Led by chairman Michael Saylor, they are putting their money where their mouth is, literally. Saylor and MicroStrategy have acquired 193,000 Bitcoins since 2020, making them the largest institutional holder of BTC in the world. This investment has paid off tremendously, making MicroStrategy into one of the most relevant public companies in the crypto space.

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According to a report filed with the SEC, from February 15 to 25, MicroStrategy bought an additional 3,000 Bitcoins for a cost basis of $155.4 million. This brought the entire portfolio to a total of 193,000 Bitcoins, with a cost basis of $31,544 per Bitcoin, or a total of just under $6.1 billion.

As Bitcoin has run up in price, Saylor's investment has seen huge gains. At its height on February 28th, Bitcoin reached a price of $63,918. At that time, Saylor's position was worth $12.3 billion, more than twice what he bought it for.

Additionally, the price of Bitcoin appreciated more than 25% in the 3-day period from February 26-28. On top of that, MicroStrategy's stock is up more than 55% this week, going from less than $700 to well over $1,000.