MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Taylor has revealed that the company is minting 500 million dollars a day as bitcoin (CRYPTO: BTC) is getting closer to $100,000 for the first time in its history.
What happened: Saylor, who has been betting on Bitcoin for years, has revealed an insane statistic: MicroStrategy’s holdings of the leading cryptocurrency have appreciated by as much as $5.4 billion in the last two weeks.
In an interview with CNBC, Saylor broke down MicroStrategy’s profits, saying, “We’re making $500 million a day. I’m looking at my screen and we’re selling dollar bills for $3, sometimes a million times a minute.”
Don’t miss:
To put things into perspective, MicroStrategy stock made a whopping 97% gain in the last month, while Bitcoin gained almost 47%.
So far this year, MicroStrategy shares have gained more than 515%, while Bitcoin prices have risen 122%.
Nvidia, the AI leader and the world’s most valuable company by market capitalization, has seen its shares rise by almost 195% during this period.
“We may very well be the most profitable and fastest-growing company in America right now. There aren’t many companies making $500 million a day,” Saylor said.
Trend: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, this is what you would have today.
Why it is important: The rise in MicroStrategy shares is not only a reflection of the growing value of Bitcoin, but also highlights the company’s strategic commitment to the cryptocurrency.
BitMEX research has shown that MicroStrategy is trading at a 256% premium to the net asset value of its Bitcoin holdings, suggesting a significant valuation disparity driven by its aggressive acquisition strategy.