As Bitcoin’s value surges, MicroStrategy, the U.S. software company known for its leveraged Bitcoin investments, has disclosed its cryptocurrency profits.
On Saturday, Michael Saylor, co-founder and CEO of MicroStrategy, revealed in a CNBC interview that the company’s Bitcoin holdings have appreciated by $5.4 billion over the past two weeks.
Saylor revealed the company’s profits: “We’re making $500 million a day.” He added, “We may very well be the most profitable company in the U.S., growing the fastest right now. There’s not many companies making $500 million a day.”
The sharp rise in MicroStrategy’s profits comes as Bitcoin’s price recently approached the $100,000 mark.
Saylor began acquiring Bitcoin in 2020 as an inflation hedge. He initially used the company’s operational funds for purchases and later leveraged stocks and convertible bond issuances to expand holdings aggressively. After Donald Trump’s election, the company bought over 50,000 bitcoins.
Following the U.S. presidential election, Bitcoin’s value surged 40% in about two weeks, significantly increasing its valuation by hundreds of millions daily. MicroStrategy now holds 331,200 bitcoins, valued at approximately $30 billion.
The company’s stock price has also seen a dramatic increase.
From $63 at the end of last year, MicroStrategy’s stock closed at $421 on November 22, marking a staggering 600% rise this year alone.
