While Bitcoin’s price remains significantly below its weekly highs, Bitcoin bulls like Michael Saylor, chairman of MicroStrategy, continue to boast staggering billion-dollar profits in their Bitcoin portfolios. Data from a tracking portal shows MicroStrategy holds 226,331 BTC tokens, acquired for $8.37 billion over the last four years at an average of $36,990 per token.
At Bitcoin’s current value of $66,282, this Bitcoin investment has yielded a profit of over $6.66 billion, representing an impressive 79% gain over four years. The profit ratio becomes even more remarkable when considering Bitcoin’s recent all-time high of $73,750.
Notably, MicroStrategy has been consistently purchasing Bitcoin almost every month since September 2020, when it first bought 16,797 BTC for $175 million. This initial Bitcoin acquisition is now worth over $1.11 billion, yielding a profit of $938 million, a 535% increase.
However, MicroStrategy has not purchased Bitcoin this month. Its most recent purchase occurred on June 20, when it acquired 11,931 BTC for $786 million after raising $500 million through a private offering of convertible notes. This Bitcoin investment has seen a profit of $4.81 million in just over a month.
The only investments where MicroStrategy is experiencing a loss are from acquisitions made during Bitcoin’s all-time high rally in March. The software company bought 19,245 BTC on March 11 and 19 for $1.44 billion at prices between $67,382 and $68,477. These investments are currently at a loss of over $36 million.
These losses have emerged amidst Bitcoin’s recent price retracement over the past three days, with prices dipping to $65K yesterday.
Notably, during his presentation at the 2024 Bitcoin Conference, Michael Saylor predicted that Bitcoin’s price would reach $13 million per coin by 2045. At this projected price, Bitcoin’s market cap would surpass 12 times the combined market caps of Gold ($16 trillion), Apple ($3.34 trillion), and Microsoft ($3.16 trillion).
Specifically, Bitcoin would have a fully diluted market cap of $273 trillion at $13 million per coin. Interestingly, Saylor considers this price point his average outlook for Bitcoin over the next twenty years. He further noted that, even in a bearish scenario, Bitcoin would be worth $3 million per coin by 2045. In a bullish scenario, he expects Bitcoin to reach a breathtaking $40 million per coin.
Interestingly, at $13 million per BTC, MicroStrategy’s portfolio would be $2,942,303,000,000 (approx. $3 trillion), an investment originally bought with $8 billion.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.