MicroStrategy's Profits Soar to $500 Million Daily Amid Bitcoin's Surge Towards $100,000
ICARO Media Group
### MicroStrategy Earns $500M Daily as Bitcoin Nears Historic Highs
MicroStrategy Inc., founded by Michael Saylor, is reportedly generating $500 million daily from its Bitcoin holdings, as the cryptocurrency approaches the significant milestone of $100,000.
Michael Saylor, who has been a long-time advocate of Bitcoin, shared that the total appreciation of MicroStrategy's Bitcoin holdings has surged by $5.4 billion in the past two weeks alone. In an interview with CNBC, Saylor elaborated on these remarkable gains: "We're making $500 million a day. I'm staring at my screen and we're selling dollar bills for $3, sometimes a million times a minute."
To illustrate the company’s growth, MicroStrategy's stock has seen an incredible 97% rise in the past month, while Bitcoin itself has climbed nearly 47%. On a year-to-date basis, MicroStrategy's stock has skyrocketed by over 515%, compared to Bitcoin's price increase of 122%. By contrast, Nvidia, a leading company in artificial intelligence, experienced a 195% stock rise during the same period.
According to Saylor, these substantial gains position MicroStrategy as potentially the most profitable and fastest-growing company in the U.S. right now. "There aren't many companies making $500 million a day," he remarked.
The spike in MicroStrategy's stock value reflects not only Bitcoin's surging price but also the company's aggressive cryptocurrency acquisition strategy. Research from BitMEX indicates that MicroStrategy is trading at a 256% premium to the net asset value of its Bitcoin holdings. This premium is possibly driven by regulations limiting Bitcoin ETF purchases, encouraging investors to turn to MicroStrategy for cryptocurrency exposure.
Saylor has also predicted a future where Bitcoin could reach a price of $13 million per coin by 2045, potentially bringing Bitcoin's market cap to an astronomical $250 trillion—far surpassing the current world GDP and global stock markets. This bold prediction has sparked widespread discussions about its economic implications, including potential hyperinflation.
Meanwhile, Warren Buffett's choice to retain $325 billion in cash within Berkshire Hathaway has faced criticism from Saylor, who views it as a missed investment opportunity given the rising value of Bitcoin.
As of the latest data, Bitcoin was trading at $98,556, marking a slight 0.04% decrease over the past 24 hours.