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.
