- Michael Saylor’s MicroStrategy has added yet another haul of BTC to its portfolio, buying 3,000 BTC over the past fortnight.
- The team now owns 193,000 BTC, by far the most of any corporate entity.
- MSI’s BTC profits stand at over $4B USD.
- Meanwhile, MicroStrategy’s X account was hacked, leading to a phishing attempt that stole USD $440K from victims.
When talking about the uber-wealthy, it’s common to hear people wonder: “what on Earth do they spend their money on?” For some it’s fast cars, yachts and island resorts.
But for Michael Saylor and his company MicroStrategy? It’s Bitcoin.
MSI Still Biggest Holder of BTC Amid $440K Hack
Michael Saylor has been on a spending spree of late. The company snaffled up 850 BTC for $37.2M in Jan (avg. price of about USD $44.1K), already widening the gap between MSI and the next-biggest corporate owner of Bitcoin (Marathon Digital). However, it has become even more pronounced over the past two weeks as Saylor and his team added yet another 3,000 BTC to their holdings. The new batch was acquired at an average price of USD $51,813 (AUD $79,230) and catapulted the company’s overall portfolio to a whopping 193,000 BTC. The total buying price of these cumulative investments was USD $6.09B (AUD $9.31B), making the average buy-in value at USD $31,544 (AUD $48.2K) per BTC.
To save you from doing the math, here’s what that portfolio looks like now, as BTC fast approaches its 24-month high.
Today’s BTC price – USD $54,492 (AUD $83.3K). Therefore, 193,000 BTC is worth ~USd $10.5B (AUD $16B). So you’re looking at profits of approximately USD $4B, even as Bitcoin only just emerges from the lengthy crypto winter of 2022-3. Pretty wild stuff.
It’s not all good news for Michael Saylor though, as the company’s X account was hacked earlier this week. Once the scammers had access, they posted a tweet that claimed MSI was bringing out a new Ethereum token and to participate in the airdrop, users had to click a certain link. Unfortunately, this led to USD $440K (AUD $672K) in assets being stolen from MicroStrategy’s followers.
The team is yet to comment on the incident.
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