MicroStrategy's Saylor Reaps Over $1B Windfall as Bitcoin Surge Boosts Massive Company Holdings
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MicroStrategy chairman Michael Saylor has acquired over 193,000 bitcoins for his company since 2020, making them the largest institutional bitcoin holder.
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From February 15-25, MicroStrategy bought another 3,000 bitcoins for $155.4 million, bringing their total to 193,000 bitcoins at an average cost of $31,544 per bitcoin.
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As bitcoin surged to $63,918 on February 28th, Saylor's bitcoin holdings were worth $12.3 billion, more than double his investment.
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With MicroStrategy stock up 55% and bitcoin up 25% from February 26-28, Saylor personally made over $1.2 billion in 3 days.
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Saylor does not plan to sell his or MicroStrategy's bitcoin, stating "Bitcoin is the exit strategy."