MicroStrategy’s Michael Saylor Vows to Buy Bitcoin Forever
Michael Saylor, co-founder and executive chairman of MicroStrategy, has declared that he and his company will continue buying Bitcoin indefinitely, reinforcing his position as a proponent of the leading cryptocurrency.
In an interview with Bloomberg, Saylor stated that he has no intention of selling his or MicroStrategy’s BTC holdings, despite the unrealized profit of around $4 billion.
Bitcoin: The Exit Strategy
- Saylor believes that BTC is the strongest asset and the ultimate exit strategy.
- He points out that while BTC competes with trillion-dollar companies like Apple and Google, it also competes with asset classes such as gold and the S&P stock market index.
- Saylor argues that there is not enough room for these companies to hold trillions of dollars worth of capital, making BTC an attractive alternative.
The Superiority of Bitcoin
- Saylor asserts that BTC is technically superior to gold and other asset classes.
- He believes that capital will continue to flow from traditional assets into BTC because it outperforms them.
- According to Saylor, there is no reason to sell the winning asset (BTC) in order to invest in the losing ones.
Saylor’s Previous Predictions Coming True
This statement from Saylor follows his previous comments about the significance of Bitcoin exchange-traded funds (ETFs) and his prediction of increased BTC demand in 2024. Both predictions have materialized:
- Saylor hailed spot Bitcoin ETFs as a major development on Wall Street, comparable to the creation of the S&P 500 fund.
- MicroStrategy became the first publicly traded company to accumulate BTC, and its holdings have grown to 190,000 BTC.
- Saylor’s prediction of increased BTC demand is evident, as demand from spot Bitcoin ETFs is nearly 10 times the available supply from miners.
Hot Take: Bitcoin Continues to Gain Momentum
As Bitcoin’s popularity and value continue to surge, Michael Saylor remains committed to his stance of buying and holding BTC indefinitely. With BTC proving to be a superior asset compared to traditional options like gold and stocks, Saylor believes that there is no reason to sell the leading cryptocurrency. His previous predictions regarding Bitcoin ETFs and increased demand have also come true, further solidifying his reputation as a knowledgeable advocate for BTC. As more investors recognize the potential of Bitcoin, its growth trajectory appears unstoppable.
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