🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

MicroStrategy's Bitcoin Success Principles Revealed by Founder Michael Saylor

Published 11/02/2024, 05:10 PM
Updated 11/02/2024, 08:45 PM
© Reuters.  MicroStrategy\'s Bitcoin Success Principles Revealed by Founder Michael Saylor
MSTR
-
BTC/USD
-

U.Today - In a recently published tweet, founder and currently the executive chairman of MicroStrategy Michael Saylor revealed the key elements of the successful strategy that has helped the company see mammoth growth both in market cap and in share price in the past four years.

Aside from that, recently published on-chain data has revealed that MicroStrategy has transferred a large Bitcoin chunk to a new blockchain address.

Nine key BTC principles for MicroStrategy's success

Bitcoin evangelist Saylor tweeted that “$MSTR is in an exclusive relationship with $BTC,” once again admitting that Bitcoin has been the major driver for the MSTR price over the past years.

The “Bitcoin principles” shared by Saylor in that tweet are the following:

1. Buying and holding Bitcoin indefinitely, exclusively, and securely.

2. Prioritizing MSTR common stock long-term value creation.

3. Treating all investors with respect, consistency, and transparency.

4. Structuring MSTR to outperform Bitcoin via intelligent leverage.

5. Acquiring Bitcoin continually, while achieving positive BTC yield.

6. Growing rapidly and responsibly subject to market dynamics.

7. Issuing innovative fixed income securities backed by BTC.

8. Maintaining healthy, robust, and pristine balance sheet.

9. Promoting global adoption of Bitcoin as a treasury reserve asset.

This week, MicroStrategy announced a plan to raise a mind-boggling $42 billion over the next three years to buy an additional amount of Bitcoin. The company already holds approximately $18 billion worth of BTC — the fiat equivalent of 252,220 Bitcoins.

MicroStrategy shovels Bitcoin to new wallet

As reported by the @lookonchain analytics X account, several hours ago, the aforementioned business intelligence company MicroStrategy made a large Bitcoin transfer to a newly created BTC wallet.

The X post revealed that Saylor’s company transferred 1,652 BTC valued at $114.38 million. This is just a tiny part of the company’s overall crypto stash, which contains 252,220 Bitcoins. According to @lookonchain's tweet, these coins were purchased at an average price of $39,266 per coin, with an unrealized profit of almost $8 billion.

The world’s largest cryptocurrency Bitcoin is currently changing hands at $69,583 after demonstrating a 2.36% loss as it left the $71,000 high. Since Tuesday, when Bitcoin topped the $74,000 high, coming close to its March historic peak, it has declined by 5.56% overall.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.