How much money did MicroStrategy make selling Stud BTC?

Source: W3C DAO

On January 14, 2024, according to Bitcoinist reports, MicroStrategy co-founder Michael Saylor seemed to be formulating his own "Bitcoin strategy."

To put it simply, Saylor has begun selling company shares to acquire more Bitcoins.

It is reported that Michael Saylor before the SEC approved the Bitcoin spot ETF On some days, he sold between 3,882 and 5,000 shares of MicroStrategy stock, earning more than $20 million.

This is said to be the first time he has sold shares in nearly 12 years. Saylor will use some of the profits from these sales to invest in Bitcoin.

Saylor is the co-founder and executive chairman of MicroStrategy. He is also an enthusiastic supporter of Bitcoin. He believes that Bitcoin is the digital gold of the future. , can be used as a wealth reserve for businesses and individuals.

An entrepreneur graduated from a prestigious school

Saylor was born on February 4, 1965 in Lincoln, Nebraska, USA. His father was an Air Force master sergeant, so he spent his childhood at Air Force bases around the world. When Saylor was 11 years old, his family settled in Fairborn, Ohio, near Wright-Patterson Air Force Base.

In 1983, Saylor entered the Massachusetts Institute of Technology (MIT) on a scholarship from the Air Force Reserve Officer Training Program.

Then he joined the Theta Delta Chi fraternity, through which he met future MicroStrategy co-founder Sanju Bansal. He graduated from MIT in 1987 with a double major in aerospace engineering and science, technology and society.

Contrary to expectations, he was unable to become a pilot due to a medical condition, so in 1987 he took a job working for a consulting firm, The Federal Group, Inc., focusing on software integration for a The company develops computer simulation models.

In 1988, Saylor became an in-house consultant for DuPont, where he developed computer models to help the company predict changes in its major markets. Simulations predicted recessions in many of DuPont's major markets by 1990.

Using funding from DuPont, Saylor founded MicroStrategy with his MIT fraternity brother Sanju Bansal.

The company initially developed software for data mining and later focused on software for business intelligence. In 1992, MicroStrategy signed a $10 million contract with McDonald's to develop an application for analyzing the effectiveness of its promotions. The contract with McDonald's made Saylor realize that his company could create business intelligence software that would allow companies to use its data to gain insights into their businesses.

Later, Saylor took the company public in June 1998, with an initial public offering of 4 million shares at $12 per share. On the first day after listing, the stock price doubled. By early 2000, Saylor's net worth reached $7 billion, and the Washingtonian reported that he was the richest man in the Washington, D.C. area.

Bitcoin enthusiast and evangelist

Saylor was not initially interested in Bitcoin. once tweeted that Bitcoin’s days are numbered as it faces government regulation and competition. He also admitted that he did not take the time to understand the principles and advantages of Bitcoin at the time.

It was not until 2020 that Saylor began to change his view on Bitcoin.

He has been affected by the new crown epidemic and the US government’s fiscal stimulus policy. He believes that the value of the dollar is being diluted and that traditional store-of-value assets, such as gold and bonds, cannot provide Adequate rewards and protection.

Saylor began looking for a new asset that could serve as a store of wealth for his company, MicroStrategy. He re-examined Bitcoin and found that it has many advantages that gold does not have, such as digital, programmable, divisible, verifiable, mobile and scalable.

Saylor has spent hundreds of hours researching Bitcoin, reading Bitcoin white papers, related books and articles, and watching videos and podcasts from the Bitcoin community. He also communicated with some Bitcoin experts and leaders, such as Coinbase CEO Brian Armstrong, Bitcoin core developer Adam Back, Bitcoin educator Andreas Antonopoulos, and Bitcoin advocate Anthony Pompliano.

Through these studies and conversations, Saylor gradually became a Bitcoin enthusiast and supporter. He announced in August 2020 that his company, MicroStrategy, would convert the majority of its cash reserves into Bitcoin, a historic move that captured the attention of the entire financial world.

Since then, Saylor has been increasing his Bitcoin holdings, both through his company and personally. He has also become a Bitcoin evangelist, actively promoting the value and potential of Bitcoin on various media and platforms, and encouraging other companies and investors to join the Bitcoin revolution.

On November 11, 2023, Michael Saylor believed that the demand for BTC may increase 10 times by the end of 2024. “I think the next 12 months are going to be an important period. Because demand should double or triple (every month). And in April (the halving) the supply available for sale will be cut in half. So, miners Instead of $1 billion in Bitcoins available each month, there will be $500 million."

Saylor also said in an interview on December 20, 2023 that the market should not underestimate the importance of the upcoming Bitcoin spot ETF. Possibly the most significant development on Wall Street in the past 30 years. He believes the last comparable new product is the S&P 500 ETF, which allows investors one-click exposure to the widely followed index.

Saylor said that so far, mainstream investors - whether individuals or institutions - have not had a "high-bandwidth" compliant channel to invest in Bitcoin, and this will all happen with spot Changed with the emergence of ETFs.

Spot ETFs will bring a demand shock to Bitcoin, followed by a supply shock from the halving event in April next year. All of this combined will prepare Bitcoin for a big bull market next year.

It can be said thatSaylor believes that Bitcoin is the greatest invention in human history and will change the world's economic, social and political landscape. He predicts that the price of Bitcoin will reach $6 million within the next 10 years, and he plans to continue to hold Bitcoin until it becomes the global reserve currency.

Buy, buy, buy, keep buying

December 2023, Michael Saylor Disclosed on the X platform, MicroStrategy once again acquired 14,620 Bitcoins for $615.7 million, with an average price of $42,110.

Saylor has continued to buy Bitcoin and has been holding it.

During MicroStrategy’s quarterly earnings call in July 2020, Saylor announced his intention for MicroStrategy to explore buying Bitcoin, gold or other alternatives assets rather than holding cash.

The following month, MicroStrategy used $250 million of its cash reserves to purchase 21,454 Bitcoins.

And this is just the beginning.

MicroStrategy subsequently increased its holdings of $175 million in Bitcoin in September 2020 and an additional $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, raising debt to increase its Bitcoin holdings to a value of more than $1 billion.

On December 21, 2020, MicroStrategy announced that its total holdings included 70,470 Bitcoins purchased for $1.125 billion, at an average price of $15,964 per Bitcoin. As of February 24, 2021, Bitcoin holdings included 90,531 Bitcoins acquired for $2.171 billion, with an average price of $23,985 per Bitcoin.

Saylor, who controls 70% of MicroStrategy, dismissed concerns from observers that the move would turn MicroStrategy into a Bitcoin investment company or exchange-traded fund (ETF).

Between October 1 and November 29, 2021, MicroStrategy purchased 7,002 Bitcoins for approximately $414.4 million in cash, with an average purchase price of $59,187, bringing its total holdings to 121,044 Bitcoin.

In 2022, Saylor resigned as CEO and continued as executive chairman, but his purchases of Bitcoin did not stop.

As of December 30, 2023, MicroStrategy now holds 189,150 BTC, acquired for approximately $5.9 billion, with an average price of $31,168.

Written at the end

This article tells the story of the growth experience of Michael Saylor, co-founder of MicroStrategy , and the story of how he went from being uninterested in Bitcoin to becoming an enthusiastic supporter and holder of it, as well as his views and predictions on the future of Bitcoin.

As he mentioned, "Over time, Bitcoin will eventually demonetize gold. In the 21st century, gold will not be used as currency. Gold was the metal currency of the 19th century. .Bitcoin will become an institutional investment-grade asset and will be welcomed by major investors, regulators and legislators.”

He is an enthusiastic supporter and evangelist of Bitcoin.