MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor has revealed that the company makes $500 million a day Bitcoin (CRYPTO: BTC) is getting closer to $100,000 for the first time in its history.
What happened: Saylor, who has been all-in on Bitcoin for years, revealed an insane statistic: MicroStrategy’s holdings of the top cryptocurrency have increased in value by a whopping $5.4 billion in the past two weeks.
In an interview with CNBC, Saylor analyzed MicroStrategy’s profits, saying, “We’re making $500 million a day. I’m staring at my screen and we’re selling dollar bills for $3, sometimes a million times a minute.”
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To put things in perspective, MicroStrategy shares have gained a whopping 97% in the past month, while Bitcoin has gained almost 47%.
Year to date, shares of MicroStrategy are up more than 515%, while Bitcoin prices are up 122%.
Nvidia, the AI clock and the world’s most valuable company by market cap, has seen its shares rise almost 195% during this period.
“We are perhaps the most profitable company in the U.S. and are growing the fastest right now. There aren’t many companies making $500 million a day,” Saylor said.
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Why it’s important: The surge in MicroStrategy’s stock is not only a reflection of Bitcoin’s rising value, but also highlights the company’s strategic bet on the cryptocurrency.
Research from BitMEX has shown that MicroStrategy is trading at a 256% premium to the intrinsic value of its Bitcoin investments, indicating a significant valuation differential due to its aggressive acquisition strategy.
