Established nearly 35 years ago by Michael Saylor, MicroStrategy (NASDAQ: MSTR) spent most of its existence as a relatively obscure software company specializing in business intelligence.
However, in 2023, its stock witnessed a remarkable surge of 337%, positioning it as one of the most significant gainers among U.S. companies valued at $5 billion or more. This surpassed the impressive rallies of Nvidia (NASDAQ: NVDA) at 232% and Meta (NASDAQ: META) at 170%.
Today, January 12, 2024, Bitcoin is trading at $45,920. This means Michael Saylor’s BTC investments are worth over $600 million. He owns 17,732 BTC, as revealed in 2020, valued at an average of $9,882. This is in case he hasn’t acquired more of this digital asset.
MSTR 5-day stock price chart. Source: Google Finance
However, although ETFs are managed passively, MicroStrategy has the flexibility to utilize its Bitcoin holdings actively. It can employ them, for instance, as collateral to generate additional business opportunities.
Whether this ETF approval will be an event that puts Saylor’s company in the backseat or whether it manages to navigate it successfully, only time will tell.
