Max Keiser, a strong advocate for Bitcoin and advisor to the president of El Salvador, has made an astounding prediction about MicroStrategy, the business intelligence company led by Michael Saylor. According to Keiser, MicroStrategy’s stock price has limitless potential for growth and “literally has no top.” Keiser believes that even seasoned financiers fail to comprehend MicroStrategy’s successful strategy and the reasons behind its surging stock price.
In June, MicroStrategy announced that it had acquired an additional 169 BTC for $11.4 million, bringing its total Bitcoin holding to 226,500 tokens. At the current exchange rate, this is roughly equivalent to $14,659,329,150. The company disclosed this purchase on July 31 and has invested a total of $8.3 billion in Bitcoin, with an average price of $36,821 per coin. Despite a 6.5% drop in MicroStrategy’s share price during a recent trading session, the company has seen a threefold increase in its stock over the past year, while the price of Bitcoin has doubled during the same period.
MicroStrategy plans to raise around $2 billion to further increase its Bitcoin allocation. The company previously raised $500 million in March and initially aimed for $700 million in the summer before raising it to $2 billion. MicroStrategy’s net loss for the quarter was almost $103 million, primarily due to an impairment charge on its Bitcoin holdings.
Michael Saylor, the CEO of MicroStrategy, recently highlighted how Bitcoin has helped the company surpass other tech firms in share price performance. The company’s bullish approach to Bitcoin and its consistent acquisitions demonstrate MicroStrategy’s unwavering confidence in the digital asset’s growth potential.