Michael Saylor, the founder of the business intelligence company MicroStrategy and currently the executive chairman responsible for Bitcoin strategy, revealed the net profit that the company pays to BTC shareholders last week. He referred to this as a 'gift' of Bitcoin for the company's shareholders. Specifically, the 'Bitcoin gift' worth $299 million has been sent to MicroStrategy (MSTR) shareholders.
Saylor stated last week that the company's treasury operations yielded a Bitcoin profit of 0.72%, equivalent to approximately 3,177 BTC. With BTC priced at around $94,000 per coin yesterday, this profit is estimated to reach $299 million, as a 'Christmas gift' for MicroStrategy's shareholders.
Through this, the founder of MicroStrategy emphasized the company's commitment to enhancing shareholder value through Bitcoin accumulation strategies and generating profits. Effective treasury management along with a strategy focused on Bitcoin as a store of value has helped the company rise to the top among publicly traded companies adopting Bitcoin.
In a recent transaction on Monday, MicroStrategy surprised the financial market by announcing a Bitcoin purchase worth $561 million with an average purchase price of approximately $107,000 per coin, in addition to other Bitcoin purchases over the past two months. To date, Michael Saylor's company owns a total of 444,262 BTC, with a total cost of about $27.7 billion and an average purchase price of $62,257 per BTC.
Does MicroStrategy sell 10 billion shares to buy Bitcoin?
After speculation that MicroStrategy was planning to issue 10 billion MSTR shares to buy an additional $3 trillion in Bitcoin (BTC), Jeff Park, Head of Alpha Strategy at Bitwise Asset Management, spoke out to refute this. Park's tone indicated that he did not believe in the feasibility of such a move due to the unrealistic nature of this speculation.
According to Park, the figure of $3 trillion is too large. He argued that this is almost impossible, considering that Bitcoin's total market capitalization has yet to reach $2 trillion. Therefore, MicroStrategy investing $3 trillion in Bitcoin is unfeasible, especially given that the market value of MicroStrategy is only about $85 billion. Park also mentioned the issues that some potential investors might face when holding MSTR shares, especially in the context of Bitcoin's price volatility. He referenced a previous article to explain investors' concerns regarding MSTR and its price volatility compared to the crypto market.
Additionally, Park clarified that MicroStrategy's large investment in Bitcoin has tightly linked the company's stock value to Bitcoin prices. He noted that if MSTR's value drops to 0, the value of Bitcoin would also be negatively affected. However, he also affirmed that even if Bitcoin drops to a record low of $30,000, MicroStrategy's stock price would not fall to 0.
Park also emphasized that MicroStrategy has many strategies to expand capital and use leverage to achieve success in the broader market.
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