Michael Saylor Brags That MicroStrategy is Making an INSANE Amount of $ From BTC Every Day

You’ve heard it a million times: “Don’t buy at all-time highs.” It’s basically the Ten Commandments of trading, right up there with “thou shalt not trust your cousin’s penny stock tips.” 

But Michael Saylor? Oh, he’s out here like, “Commandments? Never heard of ’em.” Saylor and his crypto-obsessed baby, MicroStrategy, are jaywalking blindfolded through rush hour traffic (and instead of getting hit by a bus, they’re doing backflips off the hood).

The YOLO experiment keeps getting better. On Monday, MicroStrategy announced it spent $5.4 billion buying another 55,000 bitcoins at an average price of $97,862. Yes, while Bitcoin flirted with the $100K mark, Saylor was buying like a newbie trader who just found the WallStreetBets reddit. And this isn’t a one-time splurge… MicroStrategy has turned Bitcoin hoarding into its entire business model. As of now, the company holds 386,700 BTC, purchased at an average price of $56,761 each. That’s $21.9 billion worth of digital gold.

MicroStrategy started its Bitcoin buying spree in 2020, back when Bitcoin wasn’t nearly this pricey. Since then, the company has become a walking, talking Bitcoin ETF (but with fewer regulations). Its most recent buys were funded by convertible notes and equity sales. That means they’re borrowing money and selling stock to bet big on BTC. The audacity is inspiring. Sounds familiar doesn’t it?

To put things into perspective, MicroStrategy’s stock is up a staggering 568% this year, mirroring Bitcoin’s meteoric rise of 133%. Analysts like Bernstein are all-in, too, raising price targets to as high as $600. Canaccord is full pants off for Saylor, pointing out that traditional valuation metrics don’t even apply to MicroStrategy anymore. Why? Because its software business (the thing it was actually built for) now makes up a single-digit percentage of its value. It’s all Bitcoin, all the time.

Not everyone’s having wet dreams about investing in MicroStrategy. Short-seller Citron Research recently called MicroStrategy out, saying the stock is “completely detached from BTC fundamentals.” They might have a point considering MicroStrategy is trading at a 256% premium to the net value of its Bitcoin stash. In layman’s terms, you’re paying a lot more for the hype than the actual crypto.

But does Saylor care? Not even a little. He’s busy doing media rounds and claiming that MicroStrategy is making $500 million a day as Bitcoin inches toward $100K. Oh, and he’s got crazy predictions, too: $225K Bitcoin by 2026, and $13 million by 2045. That last one would make Bitcoin worth more than the global GDP, but hey, dream big.

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Stock.News does not have positions in companies mentioned.