Michael Saylor Holds Approximately 190,000 Bitcoins
The founder and chairman of MicroStrategy, Michael Saylor, revealed that he currently owns around 190,000 Bitcoins. This announcement came as Bitcoin reached the $50,000 mark. Saylor started accumulating Bitcoin in 2020 when its value was only around $10,000.
Michael Saylor’s Plan for Bitcoin Growth
Saylor shared his plan for MicroStrategy to contribute to the growth of Bitcoin. The company has been rebranded as a real estate or oil company and will focus on developing software to generate cash flow and accumulate more Bitcoin. MicroStrategy is currently the largest public company holding Bitcoin.
MicroStrategy’s Bitcoin Accumulation
In January alone, MicroStrategy acquired 850 Bitcoins worth $37.5 million. The company plans to continue buying more Bitcoin in the future. As of February 5th, they have accumulated a total of 190,000 Bitcoins at a cost of $5.93 billion.
Bitcoin’s Institutional-Grade Asset Class
Saylor believes that 2024 is the year Bitcoin will establish itself as an institutional-grade asset class. He sees Bitcoin as the first and only asset class of the modern era, surpassing gold.
Conclusion
Michael Saylor’s collection of 190,000 Bitcoins is significant considering the limited supply of Bitcoin. MicroStrategy’s shift towards becoming a retail company focused on product development will likely accelerate their accumulation of more Bitcoins.
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