Microstrategy Commits to Bitcoin Development
Microstrategy’s executive chairman, Michael Saylor, has announced that the company will be shifting its focus entirely to Bitcoin development. Saylor believes that Bitcoin is the world’s most popular investment asset, and he wants Microstrategy to be recognized as a Bitcoin development company.
Bitcoin’s Appeal as a Global Investment
Saylor emphasizes that Bitcoin has become the top investment asset worldwide due to its unique features. It is not correlated to traditional risk assets and remains unaffected by external factors like geopolitical tensions and business performance metrics. These qualities have increased the demand for Bitcoin as an investment instrument.
Spot ETF Launch Boosts Bitcoin Market
Saylor attributes Bitcoin’s recent surge to the launch of spot Bitcoin exchange-traded funds (ETFs). The demand from ETFs has surpassed the supply from natural sellers like miners, leading to a 13% growth in Bitcoin’s value over the past 30 days. The accessibility of Bitcoin through ETFs has unleashed a decade of pent-up demand from mainstream investors.
Microstrategy’s Bitcoin Accumulation Strategy
Microstrategy started investing in Bitcoin in 2020 and has accumulated 190,000 BTC, valued at over $9 billion. Saylor’s confidence in Bitcoin as the ultimate investment asset is reflected in the company’s unwavering commitment to acquiring more Bitcoin over time.
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