Bitcoin Bliss: Michael Saylor's MicroStrategy Holds Tight to Digital Gold
Feb 21, 2024
Michael Saylor, a prominent Bitcoin advocate and CEO of MicroStrategy, reiterated his firm stance on holding Bitcoin during an interview with Bloomberg TV, stating that there's no intention to sell any of MicroStrategy's Bitcoin holdings anytime soon. Saylor emphasised Bitcoin's superiority over traditional asset classes like gold, real estate, and the S&P index, citing its technical superiority and potential for continued capital inflows. MicroStrategy, which currently holds 190,000 bitcoins purchased at an average price of $31,224 per coin, sees Bitcoin as the ultimate exit strategy, with its value now worth roughly $10 billion. Despite Bitcoin's recent price surge, Saylor believes in its long-term potential and sees no reason to divest, asserting that Bitcoin is the superior investment choice compared to other asset classes. MicroStrategy's steadfast commitment to Bitcoin has been evident since August 2020, with the company doubling down on its cryptocurrency strategy, which has seen its shares rise by 11.8% year-to-date.
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