'Bitcoin Is Going to Eat Gold': MicroStrategy’s Michael Saylor (2024)

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'Bitcoin Is Going to Eat Gold': MicroStrategy’s Michael Saylor? ›

“Bitcoin is certainly at least digital gold, it's going to eat gold,” Saylor said, “It's got all of the great attributes of gold and it's got none of the defects of gold.” As one well-worn example, Saylor said that gold can't easily be moved from New York to Tokyo in a few minutes, unlike bitcoin.

Michael Saylor's big bet on Bitcoin was supposed to be his downfall. Instead, it has helped him reap a huge windfall from his holdings in the cryptocurrency and in MicroStrategy stock.

MicroStrategy Increases Convertible Loan to $525 Million to Buy More Bitcoin. The Michael Saylor-led software company MicroStrategy has upsized its planned convertible senior notes offering from $500 million to $525 million.

Michael Saylor, CEO of MicroStrategy, a software firm that has made heavy investments in bitcoin, is now worth an estimated $4.4 billion, compared to $760 million last year. Brian Armstrong, CEO of crypto exchange Coinbase, is worth an estimated $11.2 billion, up from just $2.2 billion last year.

It is through our unique bitcoin strategy and solid track record as an operating company that we now hold 214,400 bitcoins at an average purchase price of $35,180 per bitcoin.

Billionaires with largest net worth drop due to global crypto crash in 2022. Binance founder and CEO Changpeng Zhao (commonly known as CZ) was the crypto billionaire who lost the most money following the crypto crisis of 2022, with a net worth drop amounting to 82 billion U.S. dollars.

In August 2022, Saylor resigned as CEO, remaining as executive chairman, to focus more on bitcoin.

Who Owns the Most Bitcoins? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.

Michael Saylor, the chairman and co-founder of MicroStrategy, started buying Bitcoin in 2020 as an inflation hedge and alternative to holding cash. The company holds 214,246 tokens valued at around $14 billion. The maximum total amount of Bitcoin is 21 million, with about 19.7 million tokens having been issued so far.

Is MicroStrategy stock a Buy, Sell or Hold? MicroStrategy stock has received a consensus rating of buy. The average rating score is and is based on 15 buy ratings, 0 hold ratings, and 3 sell ratings.

How many people own 1 bitcoin? ›

Summary: As of 2024, there are about 420 million cryptocurrency users globally. Of these, approximately 1.5 million individuals possess more than 1 Bitcoin, which is just 0.36% of all cryptocurrency users.

While this is a lower-bound scenario, we can use it as a baseline to show what it takes for investors to become Bitcoin millionaires. Assuming an annualized return of 30%, one would need to invest roughly $85,500 annually for five years to hit millionaire status. Over 10 years, this number falls to around $18,250.

Total debt on the balance sheet as of March 2024 : $3.61 B

According to MicroStrategy's latest financial reports the company's total debt is $3.61 B. A company's total debt is the sum of all current and non-current debts.

BlackRock officially owns more Bitcoin than MicroStrategy T | criptonoticia on Binance Square. The unthinkable has just happened: a traditional player has more Bitcoin than MicroStrategy. BlackRock holds about 240,000 BTC for its spot Bitcoin ETF, IBIT, almost three dozen more than MicroStrategy.

MicroStrategy extends data accessibility to users at the furthest edge of the organization and advances productivity across the entire data lifecycle with AI, advancing our mission of intelligence everywhere. Spend less time finding the data.

In fact, more than $100 billion in Bitcoin is estimated to be lost – but some is recoverable, says at least one firm. A 2020 report from Chainalysis, a forensics company, estimated that about 3.7 million bitcoins have been lost.

Saylor is the largest shareholder in MSTR, holding more than 2.4 million shares, and holds at least 17,732 Bitcoins of his own.

Saylor has served as Executive Chairman since August 2022. He is the co-founder of MicroStrategy and previously served as Chief Executive Officer from 1989 to 2022. He is also the chairman of the board of directors of MicroStrategy, a position he has held since co-founding the company.

In his speech, Saylor likened the cost of capital to being the benchmark which a company must surpass to increase its purchasing power, arguing that “Bitcoin is the only asset that exceeds the cost of capital. Another way to say that, is everything else is dilutive.”