Microstrategy officially owns more than 1 percent of all Bitcoins in the world

Michael Saylor, founder of the investment firm MicroStrategy, continues to instruct his firm to do one thing and one thing only: buy Bitcoins. In their latest quarterly report, the company explained that by now it owns $14 billion worth of Bitcoins, or about 214,400 Bitcoins.

That is more than the United States or China possess.

👀 MicroStrategy now has more #Bitcoin than any other country in the world 🌎 pic.twitter.com/kILmTQhwmg

— BITCOIN EXPERT INDIA (@Btcexpertindia) May 7, 2024

It’s an incredible gamble, of course, because it also means that Microstrategy’s stock price rises or falls as the price of Bitcoin moves.

DotCom

MicroStrategy founder Michael Saylor would like to forget certain parts of recent history. Although he is now well known for his crypto investments, it was notable that when someone recently reminded him of his company’s performance during the DotCom crisis, he immediately blocked that person on social media.

For those of you who don’t know, the DotCom crash happened in the first two years of the current century.

After investors poured money into new technology companies and anyone capable of creating a promising website, stock prices collapsed and the technology markets lost 78% from their peak in March 2000 till when the bottom was hit almost two years later. The most famous example was the money paid for the website Pets.com. Fortune ranked the biggest losers of that bubble in a handy top ten and the one who came out on top was none other than Saylor himself.

Things improved again from 2010 onwards when MicroStrategy diversified their investments.

However, in 2020, Saylor became completely convinced of the usefulness of Bitcoin, and that is the only thing they have been buying since. During the crypto crisis of 2022, their investments were underwater, but recently they’re making a lot of profit again.

Since the beginning of this year, the share price of Microstrategy has already gained 85%.