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Michael Saylor Posts Victorious Tweet on Bitcoin Microstrategy
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Michael Saylorco-founder of business intelligence giant MicroStrategy, has revealed the secret that has allowed his company to surpass Nvidia, Tesla and Amazon in the last four years.
MicroStrategy Beats Nvidia, Here’s Why
Saylor is a former CEO who recently stepped down from his post, but remains the company’s executive chairman.
The chart shared by Saylor shows that since August 10, 2020, MicroStrategy’s stock price has increased by 1,203%, outpacing Nvidia with its 1,050% growth. Tesla and Amazon’s stock prices have shown 167% and 22% growth, respectively. Apple’s stock price has increased by 108% over the past four years.
Saylor explained that anyone who wants their business to surpass Nvidia should adopt the Bitcoin strategy, similar to Saylor’s business intelligence giant. MicroStrategy has been buying Bitcoin steadily since August 10, 2020. As of today, the company holds 226,331 Bitcoin worth a whopping $7.538 billion.
This year, MicroStrategy has twice announced debt offerings to its investors in March and June to raise additional funds to buy more Bitcoin. In June, the company first attempted to raise $500 million offering investors convertible senior bonds, but then raising this figure to $700 million.
Related
$5.8 Billion in Bitcoin Moved by Anonymous Whales
Popular cryptocurrency tracker Whale Alert, which monitors large cryptocurrency transactions, has spotted two surprising cryptocurrency movements, each carrying several billion US dollars in Bitcoin. In addition, the same data source has spotted a much smaller Bitcoin Cash transfer, carrying 92,967 BCH worth $34,624,662.
However, this BCH transfer pales in comparison to the Bitcoin transactions, which included 48,641 BTC and 44,000 BTC worth $3,061,354,870 and $2,806,815,549. In total, they made up $5,868,170,419.
The first giant chunk of Bitcoin, 44,000 BTC, was transferred from the former and currently inactive cryptocurrency exchange Mt Gox. It transferred the Bitcoin to a new wallet, most likely in preparation to begin making compensation payments to its creditors after the historic hack in 2014, according to analytics account Lookonchain.
The second Mt. Gox transaction has not yet been confirmed by on-chain data platforms, but judging by its size, it seems to come from the same source as the first one. In addition, Mt. Gox also promised to make refunds not only in Bitcoin but also in Bitcoin Cash. Therefore, the above-mentioned BCH transfer was probably also made by this platform.