u.today
Michael Saylor, renowned Bitcoin supporter, founder and executive chairman of MicroStrategy business software firm, has taken to his X account to publish a new tweet about the recent Bitcoin yields earned by his company thanks to buying and holding $BTC long-term.
Saylor tweeted that thanks to the recent surge of the world’s largest cryptocurrency, the holders of MSTR are in for some crazy profits in daily terms.
$544 million in Bitcoin profits each day for the week
Michael Saylor tweeted that last week, MicroStrategy’s treasury operations with Bitcoin delivered 12.3% of Bitcoin yield. This provided approximately 40,738 $BTC to the company’s shareholders, which roughly means – 5,820 $BTC per day in yields on the MSTR shares they hold.
That happened before Thursday last week, when Bitcoin surged first to $93,500 and then went higher, reaching the most recent all-time high at the $99,655 price mark on Friday. As $BTC went up to over $93,500, Saylor tweeted that the Bitcoin yields for shareholders would bring $3.8 billion for the week, which equates to $544 million of yields per day thanks to the rapid Bitcoin price increase.
Last week, $MSTR's treasury operations delivered a $BTC Yield of 12.3%, providing a net benefit of ~40,738 $BTC to our shareholders, or ~5820 $BTC per day. At $93.5K per $BTC, that would equate to $3.8 billion for the week, or $544 million each day.
— Michael Saylor⚡️ (@saylor) November 27, 2024
As reported by U.Today, on November 25, the company announced a mammoth-sized purchase of 55,500 $BTC worth approximately $5.4 billion. On November 8, MicroStrategy stunned the community by acquiring $4.6 billion in $BTC. Therefore, lately, the company has accumulated a mind-blowing $10 billion equivalent of the flagship cryptocurrency. It now holds 386,700 $BTC in total valued at $21.9 billion.
In a recent comment, Saylor defended his company’s Bitcoin bet, responding to the venture capitalist Jason Calacanis, who likened MicroStrategy’s $BTC strategy to “meme stock madness” and questioned why would anyone like to buy an 80 cent worth of Bitcoin for $1, referring to MSTR. Saylor responded, saying that Bitcoin "represents the digital transformation of capital” and MicroStrategy is helping to accelerate this transformation.
Bitcoin kicked back from under $100,000
Bitcoin has been rapidly growing today, having increased from $90,990 to the $94,690 over the past 24 hours, adding slightly more than 4%. That growth followed an 8% plunge faced by Bitcoin on Monday and Tuesday when it lost the $98,990 price level.
After Bitcoin reached a new historic peak near $100,000 last Friday, it has declined by 5% so far, considering today’s recovery.