According to CNBC, the founder and chairman of MicroStrategy, Michael Saylor, saw his net worth increase by about $700 million after the company’s stock and Bitcoin prices surged for three consecutive days. Bitcoin (BTC) started a three-day rally on Monday evening Taiwan time, with its price soaring from around $51,250 to nearly $64,000, a gain of over 20%. As of the deadline, the Bitcoin trading price was $62,750.
Most of MicroStrategy’s value comes from its holdings of Bitcoin, and its stock price rose by 10% on Wednesday, resulting in a three-day gain of 40%. Saylor is the largest investor in MicroStrategy, holding 12% of the company’s shares. He also revealed in 2020 that he personally owns 17,732 Bitcoins.
Following the surge in Bitcoin and MicroStrategy’s stock this week, the value of Saylor’s assets increased from $2.27 billion at the beginning of the week to $2.96 billion on Wednesday. A spokesperson for MicroStrategy stated that the company does not comment on Saylor’s personal financial situation.
In December last year, Saylor discussed Bitcoin on CNBC, stating that he is one of the main evangelists for Bitcoin. He founded MicroStrategy in 1989, which primarily focuses on enterprise software and cloud-related services. The company’s stock price rose by 346% in 2023 and has already increased by 52% this year.
On Monday, MicroStrategy announced that it had acquired an additional 3,000 Bitcoins at an average price of $51,813 between February 15 and February 25 this year. As of February 25, the company holds a total of 193,000 Bitcoins (worth about $12 billion), with an average purchase price of $31,544.
