Proof That Dollar Cost Averaging Works: MicroStrategy's Michael Saylor Bitcoin Strategy Clocks $1.8 Billion Profit
Bitcoin luminary Michael Saylor, also the Chairman of MicroStrategy, is currently reveling in $1.8 billion profit from his strategic Bitcoin investments.
In comparison, in August 2022, his paper losses amounted to about $1 billion
Since September 2020, Saylor has methodically invested $5,325,400,000 to acquire 174,530 BTC.
Presently, the dollar-cost average for Saylor's three-year Bitcoin investment stands at $30,512.81.
With Bitcoin's current value hovering around $39,411, Saylor's initial investment of $5.325 billion has ascended to more than $7 billion.
Saylortracker's data, which tracks Michale Saylor's BTC addresses, reveals his's portfolio at a $7,102,706,533.19, marking a 33.37% gain, reaching an all-time high.
How Much Bitcoin Does Microstrategy Own?
Saylor made crypto headlines with a large Bitcoin purchase — 16,130 units at $593.3 million, just four days ago.
The average cost per Bitcoin then was $36,785.
This means he has made a profit of more than $61 million over the last four days.
This marks Saylor's second Bitcoin acquisition for November 2023.
On November 1, he invested $5.3 million to secure 155 BTC, now valued at $6.293 million.
His total Bitcoin accumulation for November is 16,285 BTC.
Microstrategy's Planned Approach
Microstrategy's largest purchase occurred during the peak of the last bull cycle.
On February 24, 2021, he invested over $1 billion to acquire 19,452 Bitcoin at an average price of $52,765 per Bitcoin. This, despite Bitcoin's recent meteoric rise, however, continues to be a loss in the books, marking a loss of about $236 million.
Conversely, Saylor's most strategic Bitcoin acquisition took place on September 14 and 17, 2020.
During these periods, he entered the market at an average price of $10,419.15 and $11,652.84, respectively.
Dollar-Cost Averaging
This investment, however, was not coincidence.
Tt is a prime example of dollar-cost-averaging (DCA) at work.
MicroStrategy announced the strengthening of its Bitcoin portfolio following a $750 million stock sale in August.
In April 2023, MicroStrategy reported a net income of $22.2 million, a stark contrast to the previous year's loss of $1.1 billion.
The company subsequently expressed its intention to expand its Bitcoin holdings, initially standing at 152,800 BTC.
In line with this strategy, MicroStrategy acquired 1,045 Bitcoins for approximately $29.3 million in April 2023, after an acquisition of about 6,500 Bitcoins earlier in May.
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