Sunday, June 16, 2024

MicroStrategy CEO holds Bitcoins worth $860 million

According to online news sources, the CEO of MicroStrategy, Michael Saylor, reportedly has amassed over 17,732 Bitcoin (BIT) tokens. The value of these Bitcoin tokens comes to around $860 million.

MicroStrategy is a business intelligence firm based in the United States that develops mobile software and provides cloud-based services. Although Michael Saylor has earned the reputation of being a Bitcoin bull, he had not publicly revealed the details of his Bitcoin holdings until November this year. The information about the crypto investments of his company was released by a media company, which conducted an interview with him.

It has been found that his company, MicroStrategy, had started buying Bitcoins in 2019. Since then, the company has amassed more than 122,478 tokens which will be worth $6 billion. During the aforementioned interview, Michael Saylor said that he expects the value of each Bitcoin token could reach $6million in the coming years. When Bitcoin was first mined in 2009, the value was around $48,504. Since then, it has mostly shown an upward trend. The token had reportedly reached a record-high of $69,000 per token this year. According to the prediction of Michael Saylor, the token can register a surge of over 12,000% from its current value.

The MicroStrategy CEO has always supported the oldest cryptocurrency in the world, Bitcoin. In November this year, he had shunned Altcoins, including the famous meme-based crypto coins, Shiba Inu and Dogecoin. This had put the CEO in a Twitter battle with Tesla CEO Musk, who tweeted a joke on the platform mocking the Bitcoin maximalists.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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