Michael Saylor, the CEO of publicly-traded business intelligence company MicroStrategy, claims to personally hold 17,732 bitcoin, currently worth more than $235 million.
Tweeting the update on Wednesday, Saylor said he bought the bitcoin at an average price of $9,882 each, i.e., at the total cost of about $175 million. Given the current prices of bitcoin, Saylor is in a notional profit of around $60 million.
Saylor said MicroStrategy has been aware of his bitcoin holdings since before the company decided to buy bitcoin for itself.
In August, MicroStrategy became the first publicly-traded company to buy bitcoin on its balance sheet. The company has so far purchased a total of 38,250 bitcoin, currently worth more than $505 million.
MicroStrategy’s bitcoin bet has led the company to record one of its strongest quarters in recent years. In Q3, the company posted its highest total revenue since 2016, and its profit reached $19.8 million, increasing from last year’s reported $11.6 million.
Saylor recently told The Block in an interview that bitcoin is the “best money ever created” as it is not deflationary by design.
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