As a seasoned crypto investor with a keen eye for market trends and a knack for spotting opportunities, I can’t help but admire Michael Saylor’s strategic moves with MicroStrategy. His latest Bitcoin purchase at over $100,000 per coin is nothing short of bold and visionary. The returns on investment are staggering, with the company’s BTC yield skyrocketing to 46.4% in just a quarter and over 72% for the year.
Michael Saylor, a key proponent of Bitcoin at MicroStrategy, recently declared that his firm, which he helped establish, has made another substantial Bitcoin acquisition. Notably, this purchase was transacted when the digital currency’s value surpassed $100,000 for the first time.
Swiftly following the announcement, Peter Schiff didn’t miss the opportunity to voice another critique directed at Saylor, his firm, and Bitcoin.
MicroStrategy recently bought 15,350 Bitcoins for approximately $1.5 billion, which equals around $100,386 per Bitcoin. This purchase has given them a Quarter-to-Date (QTD) Bitcoin Yield of 46.4% and Year-to-Date (YTD) yield of 72.4%. As of December 15, 2024, they own 439,000 Bitcoins, which were acquired for approximately $27.1 billion, with each Bitcoin costing around $61,725. The ticker symbol for MicroStrategy is $MSTR.
— Michael Saylor (@saylor) December 16, 2024
According to a post by Saylor, the NASDAQ-listed company shelled out approximately $1.5 billion to buy around 15,350 Bitcoins, with an average price of about $103,386 per Bitcoin. Now, their total Bitcoin holdings amount to over 439,000 coins, which is currently valued at more than $44 billion due to the current market prices. The company spent a total of $27.1 billion to accumulate these Bitcoins.
In just the last three months, MicroStrategy’s Bitcoin return has climbed to a remarkable 46.4%. When considering the whole year, this figure surpasses 72%.
Consequently, the firm has carried on a more modern custom initiated a few weeks back, by disclosing significant acquisitions valued over $1 billion every Monday.
As an analyst, I’ve observed this week that the outspoken Bitcoin critic, Peter Schiff, continues to voice his skepticism towards Bitcoin. In a recent comment on Saylor’s post, he predicted a potential drop in BTC’s price once the company ceases its purchase of the cryptocurrency.
As I had anticipated, if you were to cease purchasing Bitcoin, its value could potentially drop even further. And if creditors compel you to sell, it might plummet even more.
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2024-12-16 17:12