TL;DR
- Michael Saylor, Executive Chairman of MicroStrategy, declared there is no reason to sell Bitcoin, viewing it as a superior product to larger asset classes like gold, real estate, and the S&P 500.
- MicroStrategy, under Saylor’s guidance, has become one of the most assertive corporate purchasers of Bitcoin, with holdings valued at approximately $10 billion, yielding a profit close to $4 billion.
- Saylor highlighted the increasing demand for Bitcoin and the role of ETF products, dismissing concerns about their popularity complicating MicroStrategy’s Bitcoin purchases and emphasizing the role of spot ETFs in enabling institutional capital to enter the Bitcoin ecosystem.
In a recent interview with Bloomberg TV, Michael Saylor, Executive Chairman of MicroStrategy, made a bombshell statement about his company’s Bitcoin holdings. Saylor declared that there is no reason to sell Bitcoin, which he sees as the superior product when compared to larger asset classes like gold, real estate, and the S&P.
Under the guidance of its leader, Saylor, MicroStrategy has emerged as one of the most assertive corporate purchasers of Bitcoin. At the end of January, the company possessed 190,000 bitcoins, acquired at an average cost of $31,224 per unit. Given the current trading value of Bitcoin, approximately $52,000, the total value of the company’s holdings is around $10 billion, yielding a profit close to $4 billion.
He stated that he intends to continue purchasing Bitcoin indefinitely, viewing it as a long-term investment strategy. When questioned about the potential sale of his company’s substantial Bitcoin holdings, which are currently valued at approximately $9.88 billion, Saylor firmly dismissed the idea.
Saylor further elaborated on his optimistic outlook for Bitcoin, asserting that the cryptocurrency holds technical advantages over traditional asset classes such as gold, the S&P 500, and real estate. This is even though these assets currently have a significantly larger market capitalization than Bitcoin’s $1 trillion. His comments underscore his belief in Bitcoin’s potential for future growth and stability.
Increasing Demand for Bitcoin: Michael Saylor Highlights Role of ETF Products
Michael Saylor highlighted the increasing demand for Bitcoin, which he attributed to the rising interest in ETF products. He noted that this demand often surpasses the supply from Bitcoin miners by up to tenfold. Despite concerns that the popularity of ETFs could complicate MicroStrategy’s Bitcoin purchases, Saylor dismissed these worries, explaining that the company utilizes a leveraged operating strategy for its digital asset investments.
Saylor also emphasized the role of spot ETFs in enabling institutional capital to enter the Bitcoin ecosystem. He described these ETFs as catalysts for the digital transformation of capital, with hundreds of millions of dollars transitioning daily from the traditional analog financial system to the digital economy.
In conclusion, Saylor’s unwavering belief in Bitcoin’s potential and his commitment to hold onto the cryptocurrency indefinitely signals a new era of corporate investment strategies. It remains to be seen how this will influence other companies’ approach to Bitcoin and digital assets in general.
