In my opinion, Saylor played a large hand in triggering the last crypto bull-run. He used Microstrategy's cash reserves, capability to raise money via stock sales and taking on more debt, to keep stacking Bitcoin.
As per the lastest Form 8-K, MSTR acquired 480 more Bitcoin for $10 million from May 3, 2022 to June 28.
Starting August 2020, Microstrategy has bought, in aggregate, 129'698 BTC at a total cost of $3,977 billion for an average price of $30'664.
While his book gains from the early buys protected him on paper so far, a Bitcoin price of $20'135 is now wreaking havoc on MSTRs balance sheet. The loss from BTC balloned to $1,365 billion.
Sources:
Form 8-K - June 29, 2022
Quarterly numbers as reported in Microstrategy's Quarterly Report Q1 2022: Link
Press Release: MicroStrategy Announces Fourth Quarter 2021 Financial Results (page no. 8)
Quarterly numbers as reported in Microstrategy's Quarterly Report Q4 2021: Link
Quarterly numbers as reported in Microstrategy's Quarterly Report Q3 2021: Link
Quarterly numbers as reported in Microstrategy's Quarterly Report Q3 2020: Link
Source Microstrategy financials: finance.yahoo.com
Data is aggregate numbers per quarter as disclosed by the company.
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