MicroStrategy: Digital assets will be widely adopted by large global technology industries and banks from 2024 to 2028
MicroStrategy co-founder Michael Saylor provided a comprehensive outlook on the development trajectory of Bitcoin for the next four to five years at the 2023 Australian Cryptocurrency Conference. Saylor talked about the long-awaited Bitcoin halving in 2024. He predicted that next year will be crucial for Bitcoin and expects BTC to become a "teen mainstream asset" by the end of 2024. Looking ahead to 2024-2028, Saylor predicts that BTC will enter a high-growth phase. He expects large global technology and banking industries to widely adopt digital assets, integrating digital assets into their products and services. The competition between companies such as Apple and Meta (Facebook) to acquire BTC for hefty profits is expected to intensify.
He also pointed out a key factor involving major financial institutions such as JPMorgan Chase, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank. Saylor expects them to potentially participate in activities such as lending, providing mortgage loans, customization, and buying and selling Bitcoin.
Unrealized profits from MicroStrategy’s BTC holdings have reached $1 billion
According to saylortracker data, the unrealized profit of Bitcoin held by MicroStrategy has reached 1 billion US dollars. In October, MicroStrategy purchased an additional 155 BTC for $5.3 million, bringing the company's total holdings to 158,400 BTC.
MicroStrategy once again increased its holdings of 155 BTC, and the average buying price was updated to $29,586.
MicroStrategy announced its Q3 2023 earnings report, which showed that the company had once again increased its BTC holdings by 155 coins at a price of $5.3 million in October.
As of October 31, 2023, MicroStrategy holds a total of 158,400 bitcoins, with a total cost of $4.69 billion and a holding cost of $29,586 per coin.
TD Cowen: If spot Bitcoin ETF is approved, MicroStrategy stock premium may decrease by 15% to 25%
TD Cowen analyst Lance Vitanza estimates that MicroStrategy's stock price is about 30% higher than its enterprise value due to its holding of 158,245 bitcoins as of September. He said that if the SEC approves a bitcoin ETF in the coming months, the premium may decrease by 15% to 25%. Vitanza gave MicroStrategy a "outperform" rating and said that the premium would decrease but not to zero.
Michael Saylor: No asset can compare to Bitcoin
Michael Saylor, the founder of MicroStrategy, stated in a recent article discussing Bitcoin's dominance that when people examine the cumulative returns brought by Bitcoin, its outstanding performance becomes apparent. In a total asset return table shared by Saylor, Bitcoin's return rate reached an astonishing 1,120,785% from 2011 to 2023, equivalent to an annualized return rate of 147.5%, a staggering number. Compared to traditional asset classes such as the US Nasdaq 100 Index or US large-cap stocks, these numbers are impressive, as both assets, while performing strongly themselves, fall far behind Bitcoin's return rate. According to the shared data, the US Nasdaq 100 Index has risen 613% since 2011, while US large-cap stocks have risen 315%.
MicroStrategy’s BTC Holdings Have Generated Approximately $746 Million in Unrealized Profits
Lookonchain monitoring shows that as the price of BTC soars, MicroStrategy's holding of 158,245 BTC ($5.4 billion) has generated approximately $746 million in unrealized profits. Since May 2022, MicroStrategy has purchased 28,560 BTC ($734 million) at an average price of $25,707, which has lowered its average purchase price to $29,582.
MicroStrategy’s Bitcoin holdings have gained $206 million
As of September 24, 2023, MicroStrategy has purchased approximately 15,8245 bitcoins for a total price of about 4.68 billion US dollars, with an average holding price of 29,582 US dollars.
Data Shows That Block.One Still Holds More BTC Than MicroStrategy
Bitcoin.com has revealed the latest data from bitcointreasuries, which shows that Block.One still holds more BTC than MicroStrategy. It is reported that MicroStrategy currently holds 158,245 BTC, while Block.one, the company behind the development of the EOS network, holds 164,000 BTC.
With a BTC price of $30,000, MicroStrategy has currently made approximately $67.4 million in profit
MicroStrategy purchased approximately 54,450 bitcoins for around $147.3 million between August 1, 2023 and September 24, 2023. As per the company's purchase documents, as of September 24, 2023, MicroStrategy holds approximately 158,245 bitcoins with a total purchase price of around $4.68 billion.
In the midst of a volatile market, the profitability of MicroStrategy's bitcoin holdings has improved. With an average total purchase price of $29,582 per bitcoin, the company has currently realized a total profit of around $67.4 million with bitcoin trading at $30,000.
MicroStrategy now earns more than $50 million on $4.68 billion in Bitcoin investments
According to the rise in the price of Bitcoin, MicroStrategy is once again profitable on its $4.68 billion Bitcoin investment; its average purchase price of Bitcoin is $29,582, and if calculated at the price of $29,913 at the time of publication, the profit per coin is $331. MicroStrategy holds 158,245 Bitcoins, with a total profit of $52.38 million.
In addition, MicroStrategy's stock price closed at $348 on Friday this week.
Previously, on September 25th, MicroStrategy purchased 5,445 Bitcoins for approximately $147.3 million, with an average price of 27,053 USDT; as of September 24th, it held a total of 158,245 Bitcoins, with an average holding price of 29,582 USDT, worth over $4.68 billion.
