MicroStrategy’s Bitcoins are back in black

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Last Updated on 13 April 2023 by CryptoTips.eu

If there is one company that has gone all out on Bitcoin in recent years, it’s MicroStrategy, the organization around Michael Saylor. He became famous in the Dotcom crisis when he first won and then lost billions (Microstrategy’s stock went from $3,300 to $4, losing 99.99% of its value) and Fortune proclaimed him the “biggest loser” of the crash.

Saylor started over again, his company became profitable again and he relisted it on the Nasdaq technology exchange. For a long time everything went well. In 2020 he stopped diversifying and bet almost everything the company owned on Bitcoin.

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Dotcom redux?

As a result, the man became very popular with all those who invest in crypto and appeared to be the smartest CEO of Wall Street when Bitcoin traded above $60,000 in 2021. Microstrategy shares shot up to $1,000.

However, since 2022 he has faced a lot of criticism when it turned out that his 140,000 Bitcoins, purchased at an average value of $29,800, were at a heavy loss.

Several critics thought MicroStrategy’s stock would crash as it dropped to around $130.

At the beginning of this week, Bitcoin broke through the psychological $30,000 barrier again for the first time since June 2022, earning MicroStrategy a profit for the first time in a long time.

For a few days now, Saylor has been pointing out to everyone what the best investment since August 2020 was. Microstrategy’s stock is trading around $300 again.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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