MicroStrategy’s Bitcoin Profits Soar Past $10.19 Billion as Michael Saylor Eyes Even Greater Gains
Michael Saylor clarified his intentions amidst the current Bitcoin market bull phase, expressing that he is looking forward to further gains & investment in Bitcoin.
Michael Saylor is the chairman and former CEO of Nasdaq-listed business intelligence firm MicroStrategy, which began acquiring Bitcoin in 2020 under his leadership. In 2022, Saylor stepped down from the CEO role to dedicate more time to the company’s Bitcoin investment strategy.
As Bitcoin hit a new all-time high today, large holders, including financial institutions, are reaping the benefits of substantial unrealized profits.
MicroStrategy’s Bitcoin Profit
MicroStrategy, holding ₿252,220, currently has an unrealized profit of $10.19 billion. On this profit, MicroStrategy’s former CEO hinted at his desire for more growth, suggesting he is aiming for further Bitcoin investments and increased returns.
Saylor has consistently promoted Bitcoin, urging others to invest due to Bitcoin’s limited supply, which is set to decrease significantly over time.
El Salvador’s Bitcoin Profit
El Salvador, where Bitcoin is legal tender, currently holds a total of 5,929 BTC. With this amount, El Salvador’s unrealized profit stands at approximately $110 million.
Peter Schiff vs Bitcoin
The recent surge in Bitcoin’s price has led Bitcoin enthusiasts to troll prominent critic Peter Schiff, an economist who consistently supports gold and gold ETFs.
On November 10, 2024, Schiff criticised Bitcoin enthusiasts, referring to them as “corrupt,” and indirectly labelled newly elected U.S. President Donald Trump as corrupt for changing his stance on Bitcoin and endorsing it to gain voter support.
