Strategy Inc. MSTR (formerly known as Microstrategy) shares gained 2% on Monday after the company disclosed fresh sales of Bitcoin and common stock as it continued executing its revamped capital strategy focused on strengthening liquidity and supporting its balance sheet. The company, led by Executive Chairman Michael Saylor, said it sold approximately 1,638 Bitcoin for about $104.7 million dur...
We estimate Michael Saylor's net worth at $3.2 billion, a fortune primarily derived from MicoStrategy, the software company he founded in the 1990s. Saylor lost his status as a billionaire after the dot-com bubble burst, but rebuilt his wealth through investments in bitcoin over the last decade.
Saylor, who founded Strategy, then known as MicroStrategy, in 1989, has an estimated net worth of $3.2 billion as of Friday. He emerged as a leading executive during the dot-com bubble, after which Saylor's fortune shrank, but Strategy's bitcoin investments made him a billionaire once again as he directed the firm to shift its corporate coffers into cryptocurrency.
Strategy (NASDAQ:MSTR) shares fell 7% in pre-market trading after the company reported a wider-than-expected second quarter loss, largely driven by unrealized losses on its Bitcoin holdings. The company reported a net loss of $8.22 billion, or $24.45 per diluted share, for the three months ended June 30, compared with net income of $10.02 billion, or $32.60 per share, in the year-ago period.
Strategy has gone more than a month without buying bitcoin.
The bitcoin treasury company reported a loss of $8.22 billion, or $24.45 a share, from a profit of $10.02 billion the year prior.
Strategy MSTR (formerly known as Microstrategy) shares climbed on Monday after the company disclosed it had not purchased any Bitcoin for the fifth consecutive week, instead continuing to build its cash reserves and repurchase preferred shares under its revised capital allocation strategy. The company said in a filing that it neither bought nor sold Bitcoin during the week ended July 26, leavin...