Bitcoin bull Michael Saylor reportedly owns about $866 million of the cryptocurrency – and says the token is headed to $6 million
MicroStrategy has been acquiring bitcoin since 2019, and Chief Executive Officer Michael Saylor revealed he has a stash of his own.
The bitcoin evangelist personally owns at least 17,732 bitcoin, according to details from a November interview with The Information published in a Tuesday newsletter. At bitcoin's current price of around $48,888, that means his stash of tokens is worth about $866 million.
He's never sold any of his tokens, and in general, he doesn't "believe you should sell your bitcoin," The Information reported.
That makes sense, considering Saylor said he sees bitcoin eventually reaching $6 million per token. That's a surge of more than 1,200% from current levels.
Saylor famously lost $6 billion in a single day during the height of the dot-com bubble and has since re-emerged as the .
Meanwhile, his firm MicroStrategy holds 122,478 bitcoins total, after accounting for its latest purchase earlier this month. At current price levels, that means the firm's crypto holdings are worth about $6 billion. The company reported it bought the bitcoin at an average price of about $29,861 apiece, across all its purchases.
MicroStrategy, the analysis software maker based in Tysons Corner, Virginia, first purchased a quarter of a million dollars worth of bitcoin in 2019, which is now worth $1 billion, The Information reported. The company has vowed to build up its bitcoin coffers for years to come using cash flows, debt, or equity, depending on the market and shareholders, CNBC reported in November.
Bitcoin hit a record high last month of $69,000 but has slumped since. Even so, the token is up about 66% so far this year. As for MicroStrategy, the firm's shares have surged about 29% in 2021. The company did not immediately respond to Insider's request for comment.Source