In a recent talk with Bloomberg TV, MicroStrategy’s Michael Saylor stood strong on his belief in Bitcoin, calling it the ultimate ‘exit strategy’ and affirming the company’s commitment to holding its substantial BTC stash.
But is this bold bet genius or madness? Dive in and discover Saylor’s audacious vision for the future, and why MicroStrategy is betting it all on Bitcoin.
MicroStrategy holds a whopping 190,000 bitcoins, snagged at an average cost of $31,224 per coin. Currently valued at around $52,275.60 each (at the time of writing), the company’s holdings have surged to a staggering $10 billion, netting them a cool $4 billion profit.
Despite the impressive profits, Saylor is resolute in his stance that “Bitcoin is the exit strategy.” He emphasizes Bitcoin’s superiority over traditional assets like gold, real estate, and the S&P index.
Also Read: Michael Saylor Predicts 2024 Bull Run, With Bitcoin ETF as Major WallStreet Development in 30 Years
In the Bloomberg TV interview, Saylor declared his perpetual commitment to “buying Bitcoin forever.” His strong belief in Bitcoin’s value-holding properties and its potential as an inflation hedge is evident.
Since starting its Bitcoin journey in August 2020, MicroStrategy has consistently added to its portfolio. The recent acquisition of 850 BTC at $37.5 million showcases Saylor’s dedication, with a cost basis of $31,464.74 and an unrealized profit of $3.505 billion.
Transformation Alert!
In a bold move, MicroStrategy rebranded itself as a “Bitcoin development company” in its Q4 2023 earnings report, cementing its commitment to Bitcoin. This shift led to a noteworthy 11.8% surge in MicroStrategy shares year-to-date, indicating investor confidence in Saylor’s strategic approach.
“We will develop software, generate cash flow, leverage the capital markets, all to accumulate more Bitcoin.”
With a remarkable 466% surge since August 2020, MicroStrategy’s share price outshines major assets like the S&P 500, Nasdaq, and even Bitcoin stocks. Saylor’s clear message: “There’s just no reason to sell the winner and to buy the losers.”
Did You Know? MicroStrategy’s Bitcoin Bet Pays Off: $10 Billion Profit and Counting!
Saylor believes, “The ETFs are facilitating the digital transformation of capital.” He anticipates significant capital inflows into Bitcoin and other digital assets upon spot ETF approval, potentially driving further institutional adoption.
In a financial landscape full of twists, Michael Saylor’s unwavering commitment to Bitcoin not only positions MicroStrategy as a pioneer but also showcases his leadership.
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