Bitcoin bull Michael Saylor nets $700 million in gains on 3-day pop in crypto and MicroStrategy

(CNBC) While the long-term safety of bitcoin may still be up for debate, Michael Saylor’s strategy has been a hugely lucrative one, particularly this week. Shares of MicroStrategy, which derives the vast majority of its value from its bitcoin holdings, jumped 10% on Wednesday, bringing its three-day rally to 40%. Saylor is MicroStrategy’s biggest investor, with a 12% stake in the company. He also disclosed in 2020 personal ownership of 17,732 bitcoins.

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