If You Invested $1,000 In Bitcoin When Michael Saylor Said To Mortgage Your House, Here's How Much You'd Have Today
Portfolio Pulse from Chris Katje
Michael Saylor, co-founder of MicroStrategy Incorporated (NASDAQ:MSTR), is known for his bullish stance on Bitcoin (CRYPTO: BTC), even suggesting to mortgage houses to buy it. MicroStrategy has accumulated 189,150 BTC with an average purchase price of $31,168. Saylor emphasizes a long-term investment strategy for Bitcoin. A $1,000 investment in Bitcoin when Saylor advised in March 2021 would be worth $810.73 today, a decline of 18.9%. Optimism remains with the approval of spot Bitcoin ETFs potentially increasing Bitcoin's value.
January 11, 2024 | 8:29 pm
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MicroStrategy, under Saylor's leadership, has heavily invested in Bitcoin, making its stock price sensitive to changes in Bitcoin's value. The company holds 189,150 BTC, with an average purchase price of $31,168.
MicroStrategy's stock price is closely tied to the performance of Bitcoin due to its large holdings. However, the short-term impact may be neutral as the market has already absorbed Saylor's bullish stance and the current value of Bitcoin.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90