MicroStrategy CEO claims to personally hold $235 million worth of bitcoin
October 28, 2020, 9:00AM EDT
1 min read
Michael Saylor, CEO of Nasdaq-listed business intelligence company MicroStrategy, claims to personally hold 17,732 bitcoin, currently worth more than $235 million.
Tweeting the update on Wednesday, Saylor said he bought the bitcoin at an average price of $9,882 each, i.e., at the total cost of about $175 million. Given the current prices of bitcoin, Saylor is in a notional profit of around $60 million.
Saylor said MicroStrategy has been aware of his bitcoin holdings since before the company decided to buy bitcoin for itself.
MicroStrategy's bitcoin bet has, in part, led the company to record one of its strongest quarters in recent years. In Q3, the company posted its highest total revenue since 2016, and its profit reached $19.8 million, increasing from last year's reported $11.6 million.
Adidas Originals, a brand of the German sportswear clothing firm Adidas, announced a partnership with the crypto exchange Coinbase in a Wednesday tweet. Details about the partnership are scant, however.