Stock price data from major financial platforms like Bloomberg or Yahoo Finance

MicroStrategy's Bitcoin Holdings Surge to 331,200 BTC, Generating $500M Daily Profit; $1.5B Shorts Liquidated at $100K

Nov 24, 2024, 06:30 AM

MicroStrategy, led by CEO Michael Saylor, has been aggressively acquiring Bitcoin, with recent purchases amounting to 79,000 BTC in the last two weeks, bringing their total holdings to 331,200 BTC. This strategy has resulted in significant unrealized profits, with the company claiming to generate $500 million a day from its Bitcoin investments. Saylor's bullish stance on Bitcoin has led to a 100,348% increase in MicroStrategy's stock price since July 2002, when it hit an all-time low of $0.42, to its current price of $421.88. The company has utilized low-interest debt, including $3 billion in zero-interest convertible notes, to finance these acquisitions, amplifying returns for shareholders. However, the market has seen substantial volatility, with over $500 million in leveraged crypto positions liquidated in the past 24 hours as Bitcoin's price experienced a pullback from $99,000. Despite this, the open interest across all cryptocurrencies has reached an unprecedented $72.5 billion, indicating high market confidence. The company's stock valuation now stands at $105 billion, with $1.5 billion in Bitcoin shorts set to be liquidated at $100,000.