MicroStrategy CEO Michael Saylor holds $235 million in Bitcoin

MicroStrategy CEO Michael Saylor commented on his Bitcoin ownership via Twitter. He said some people had asked him about it.

On 27 October 2020, Michael Saylor, CEO of MicroStrategy, twittered that he owned 17,732 Bitcoin. This represents a current value of $235 million. He stated that he purchased the Bitcoin at an average exchange rate of $9,882. He would therefore have a total cost of USD 175 million.

Taking into account the current Bitcoin exchange rate, Saylor would have made a profit of approximately USD 60 million. Saylor stressed that his company MicroStrategy had been aware of its personal Bitcoin holdings before investing in the crypto currency itself in August 2020. At that time, the company purchased 38,250 Bitcoins worth over $505 million.

The investment was a complete success for MicroStrategy. The company had one of its strongest quarters in recent years. In the third quarter, the company enjoyed its highest total revenue since 2016. With a profit of $19.8 million, the company posted an 11.6 percent increase over the previous year.

Michael Saylor is convinced of the crypto currency Bitcoin. During a recent interview, he said Bitcoin was the best money ever created.