In a recent interview, Saylor discussed the company’s strategic emphasis on acquiring and holding Bitcoin, highlighting its performance relative to conventional asset classes.
MicroStrategy’s CEO, Michael Saylor, has emphasized the company’s steadfast dedication to Bitcoin, positioning the cryptocurrency as a favorable long-term investment compared to traditional assets.
Since the autumn of 2020, MicroStrategy has significantly expanded its Bitcoin holdings, starting with an initial purchase of 17,732 BTC and now holding a substantial 158,400 BTC as of November 2023.
This accumulation amounts to an investment nearing $4.7 billion. The bold acquisition strategy has proven successful; from August 10, 2020, to October 31, 2023, Bitcoin’s value surged by 192%, outpacing the growth of stocks, gold, and bonds.
MicroStrategy’s CEO Michael Saylor Defends Bitcoin, Foresees Significant Growth
Michael Saylor, CEO of MicroStrategy, has addressed concerns about Bitcoin’s volatility and its classification, asserting that it should be seen as a “digital property” poised to outshine currency derivatives and weaker assets over time. Saylor is confident in Bitcoin’s potential to serve as a safeguard against economic uncertainty.
Despite selling 704 BTC in December 2022, MicroStrategy’s retained Bitcoin holdings have generated substantial unrealized profits. With Bitcoin’s price reaching $37,000, estimates suggest the company’s profits now exceed $1 billion. Speaking at a recent convention in Australia, Saylor projected a potential tenfold increase in demand for Bitcoin in the coming year.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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