MicroStrategy’s Michael Saylor Doubles Down on Bitcoin, Sees No Reason to Sell

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MicroStrategy Executive Chairman Michael Saylor declared his unwavering commitment to Bitcoin, stating the company has no plans to sell any of its holdings in the near future. This stance comes amidst growing institutional interest in digital assets, fueled by the recent launch of Bitcoin ETFs.

No Plan to Sell

MicroStrategy Executive Chairman Michael Saylor is doubling down on Bitcoin, declaring the company has no plans to sell any of its holdings in the foreseeable future. He sees Bitcoin as a superior asset compared to traditional options like gold, real estate, and the S&P 500, fueled by increasing institutional interest and capital inflow through Bitcoin ETFs.

“There’s no reason to sell the winner and buy the losers,” Saylor stated in a Bloomberg TV interview. He believes Bitcoin’s limited supply and digital nature make it “technically superior” to traditional assets, attracting hundreds of millions of dollars daily from the “traditional analog ecosystem” into the digital economy.

An Exit Strategy

MicroStrategy currently holds 190,000 Bitcoins, purchased at an average price of $31,224, with a current value of roughly $10 billion. This translates to a $4 billion profit, yet Saylor reframes Bitcoin as the “exit strategy,” suggesting it has more potential than other investments.

“We believe capital is going to keep flowing from those asset classes into bitcoin because bitcoin is technically superior,” he affirmed. This aligns with MicroStrategy’s recent rebranding as a “bitcoin development company,” highlighting their unwavering commitment to the cryptocurrency.

However, it’s crucial to acknowledge the inherent volatility and risks associated with cryptocurrency investments. While Saylor paints a bullish picture, prospective investors should conduct thorough research and understand the associated risks before making any investment decisions.

Author: Jinka

Jinka is a self-trained crypto journalist, passionate about happenings in the industry.