Michael Saylor now worth $5.7 billion in BTC: “I want more!”

Michael Saylor admits he’ll never stop buying Bitcoin and may need professional help after MicroStrategy’s Bitcoin holdings topped $5.7 billion this week.

MicroStrategy (MSTR) is the largest public holder of Bitcoin (BTC) with over 150,000 bitcoins in its treasury, accounting for over 80% of the business software company’s $7.1 billion market capitalization.

Bitcoin’s recent surge to $37,000 puts Saylor 25% up on his cumulative investment, which has been acquired over the last three years using company funds and proceeds from bond sales. His unrealized gains stand at over $1.1 billion.

Yet Saylor, lauded as a champion of the people for his very public backing of Bitcoin over the years, raised some alarm bells this week with his latest comments on the ‘Degens Den’ podcast. Some think he’s at a tipping point.

“I mean, 158,000 out of 21 million. Is that good? I’ll never stop buying Bitcoin. I want all the Bitcoin. Can I do that?” Saylor asked the interviewer, who goes by the alias ‘MuskMoonboi69’.

Saylor, the executive chairman of MicroStrategy, holds 10 times more Bitcoin than the second-largest institutional holder, Marathon Digital, which actually mines BTC directly on the network and counts 13,000 bitcoins on its balance sheet.

“It’s not enough. It can never be enough. Bitcoin is the scarcest asset in the world. I’m not aware of any limits to how much I can hold. I’ll just keep buying.”

Saylor last pulled the trigger on a BTC purchase on September 24, when he added 5,445 more coins to MicroStrategy’s books for just under $150 million, at an average price of $27,053.

“How much does Satoshi have? 1 million?” he added. “I can beat that. Why not?”

Obsessed much?

According to a source close to Saylor, some of his closest family are concerned that “this crypto thing” has become an obsession.

“The man never leaves his study. He’s either on some random podcast talking to crypto bros in t-shirts or he’s buried in his phone checking prices. We worried about him,” said the source.

Clinical psychologist Dr Kathy Woods confirmed to WSM that buying Bitcoin can be addictive to certain personality types, and that Saylor might well be on a dangerous path if he’s not careful.

“Everybody involved in cryptocurrency whom I’ve treated seems to display a particular kind of irrationality and blind courage when it comes to this volatile industry,” Woods says. 

“Recent studies show that, besides the typical symptoms associated to gambling addictions, finance types who have had any type of success trading crypto seem to repeat unhealthy patterns. A lot of them have lost everything at one point, and believe they’ll eventually win it all back.

“Michael Saylor keeps winning though. I have to say, he’s one of the more successful ones out there. If he calls me for help, I’ll have to insist on Bitcoin as payment!”

Bitcoin’s recent rise in price is attributed to optimism that the U.S. Securities and Exchange Commission (SEC) could trigger an earlier-than-expected approval of the first spot Bitcoin ETF in the country.

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Mark Medown• November 11, 2023D

Michael Saylor now worth $5.7 billion in BTC: “I want more!”

Michael Saylor admits he’ll never stop buying Bitcoin and may need professional help aft...
Memecoins
Mark Medown• D

Michael Saylor now worth $5.7 billion in BTC: “I want more!”

Michael Saylor admits he’ll never stop buying Bitcoin and may need professional help aft...
Memecoins

Take-Two pumps 7% as GTA 6 die-hards lose hope

Take-Two stock is pumping following news from Rockstar about Grand Theft Auto VI but gamers might not even be able to afford the next instalment.

Credit rates are so high and inflation so rampant that many gamers who completed GTA 5 back in 2013 now have 2.5 expensive kids, a painful mortgage, and crippling debt.

“I waited three years, then four, for GTA 6. It’s already been 10 years. I’ve got $150k student debt, a 7% mortgage, and two kids,” said a former gamer who also lost a fortune trading meme stocks.

“I don’t know who’ll play GTA 6, but it won’t be me, and it won’t be my ungrateful kids.”

Take-Two Interactive (TTWO), the company behind gaming giant Rockstar, has rallied nearly 7% since Wednesday following a mere mention of GTA 6, the publisher’s flagship title.

Rockstar announced that the first trailer for the much-anticipated title will be released next month, ending more than a decade’s wait for a first glimpse of the latest instalment of the open-world franchise.

How much longer? Really.

Ten years since its predecessor was released back in 2013, many hardcore gamers took the news with a pinch of salt. After all, GTA 5 was released on PlayStation 3 – two generations of consoles ago.

Speculation suggests a GTA 6 release window between April 2024 and March 2025. But at the current rate of inflation, when the game eventually gets released, it might cost as much as a monthly debt repayment.

“This means we’ll see it in 2026 if we’re lucky, I won’t get excited,” one gamer quipped. 

“It’s kinda hard to be excited after how GTA 5 turned out,” said another. “I miss single player Rockstar and they spent the last decade releasing nothing but multiplayer DLC [downloadable content].”

GTA 6 = Cash Money

Yet Wall Street is drooling. The DLC strategy rakes in bags of cash for Rockstar, whose net bookings totalled $5.3 billion in the last financial year without any talk of Grand Theft Auto, the best-selling video game franchise of all time.

GTA 5 remains the best-selling single game of all time, and has consistently sold around five million units per quarter for the last several years. Total sales stood at 185 million units as of August.

And after Take-Two’s extremely bullish forecast earlier this year which promised to roughly double earnings over the next two financial years, confirmation that GTA 6 is on track is something of an ‘all-in’ signal.

Fringe traders caught by surprise by Take-Two’s latest move now await a bearish Jim Cramer prediction to confirm higher price levels to come.

NOW READ: Inverse Cramer Strikes Again: Bumble and Take-Two Edition

Latest news

Mark Medown• November 9, 2023D

Take-Two pumps 7% as GTA 6 die-hards lose hope

Take-Two stock is pumping following news from Rockstar about Grand Theft Auto VI but gamer...
Stonks
Mark Medown• D

Take-Two pumps 7% as GTA 6 die-hards lose hope

Take-Two stock is pumping following news from Rockstar about Grand Theft Auto VI but gamer...
Stonks