🔥 Michael Saylor Believes in Bitcoin's Long-Term Potential
posted 21 Feb 2024
Investor and staunch Bitcoin advocate Michael Saylor is not considering selling any of MicroStrategy's Bitcoin holdings in the near future. He points out that the advent of Bitcoin ETFs has paved the way for institutional investors, leading to a consistent increase in capital flow into the digital economy each day.
Bitcoin is the exit strategy,Michael Saylor stated.
Saylor firmly believes that Bitcoin technically far surpasses traditional investment assets such as real estate, gold, and even high-capitalization tech stocks. Hence, he argues that it would be illogical to “sell the winner and to buy the losers.”
Since 2020, MicroStrategy has been accumulating Bitcoin and now possesses 190,000 BTC, purchased at an average price of $31,224 each. At the current valuation of the leading cryptocurrency, this investment is worth approximately $10 billion, yielding a net profit of $4 billion. The company has also recently rebranded itself as a Bitcoin development company.
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