Michael Saylor, the executive chairman of business intelligence company MicroStrategy, has put the company on air as the biggest corporate firm that has journeyed from grass to financial grace, even in the face of market volatility.
In a recent tweet, the American billionaire entrepreneur flourished MicroStrategy’s rich historic transition from 2002 to date. He stated that on July 3, 2002, the publicly traded company recorded its lowest end-of-day price at $0.42.
On July 3, 2002, $MSTR stock fell to an all-time low of $0.42. Yesterday, it closed at $421.88.
Never. Never. Never give up.
— Michael Saylor⚡️ (@saylor) November 23, 2024
A Journey of Resilience And Grit
Fast-forward 22 years, and the business intelligence firm records a 100,247% increase in the price of its market stock, which is now $421.88.
At the time of writing, however, data found on companiesmarketcap.com revealed that $MSTR stock market prices have pumped up once again from $421.88 to $473.83, another 12% increase from the time Michael Saylor made the latest flaunt on X(formerly Twitter).
Notably, the software company’s stock market value started to appreciate significantly in August 2020, when MicroStrategy became the first publicly traded company in the United States to acquire bitcoin as part of its capital allocation scheme.
Since then, the publicly traded company has made bitcoin a core reserve asset, acquiring the king crypto as a hedge against the influence and having diversity in its corporate treasury asset.
Michael Saylor’s Business Model
Over the past few years, the business intelligence company has been on countless bitcoin purchase sprees, applying Saylor’s unconventional model to bitcoin banking, which he dubbed “capital market arbitrage,” as a vehicle to making MicroStrategy the world’s leading bitcoin bank.
The firm has been to the bitcoin market on several occasions recently. MicroStrategy recently announced that it has added 55,500 BTC to its holding, worth $5.4 billion. This brings its total holdings to 386,700 BTC. Interestingly, this portfolio is worth over 1.84% of BTC’s total supply of 21 million coins.
