Michael Saylor, the founder of MicroStrategy (MSTR), was asked if he considered taking profits. He stated that he had previously said, “I will always buy at the high point,” and continuing to buy Bitcoin is MicroStrategy’s exit strategy.
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Michael Saylor: Bitcoin Competes with S&P 500 and Real Estate
Does ETF Increase the Difficulty of MicroStrategy Buying Bitcoin?
Does MicroStrategy Consider Taking Profits with Bitcoin Assets of about $10 Billion?
MicroStrategy’s Bitcoin Holdings Close to $10 Billion
Michael Saylor: Bitcoin Competes with S&P 500 and Real Estate
Michael Saylor made several points:
Does ETF Increase the Difficulty of MicroStrategy Buying Bitcoin?
Michael Saylor denies this, pointing out that it is a good virtuous cycle and believes that Bitcoin ETF opens the door for institutional capital inflows, promoting the digital economic transformation of capital.
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The inflow of Bitcoin ETF far exceeds the selling pressure from mining companies, about 8 to 10 times.
Does MicroStrategy Consider Taking Profits with Bitcoin Assets of about $10 Billion?
Michael Saylor stated that he had previously said, “I will always buy at the high point,” and continuing to buy Bitcoin is MicroStrategy’s exit strategy.
He said:
The market value of Bitcoin is on par with Apple, Google, and Microsoft, with the difference being that Bitcoin is an asset class rather than a company. The capital structure of a company cannot accommodate $10 trillion or $100 trillion. Therefore, Bitcoin is competing with gold and still has a growth potential of more than ten times in market value. It is competing with asset classes such as S&P 500 and real estate, which have market values of over a hundred billion dollars, as a store of value asset.
He believes that capital will continue to flow from these asset classes into Bitcoin because Bitcoin is technically superior to these assets, and there is no reason to sell winners and buy losers.
MicroStrategy’s Bitcoin Holdings Close to $10 Billion
Previously reported, MicroStrategy initially planned to invest in “alternative assets” in August 2020 when the price of Bitcoin was only about $11,653. On September 11th of that year, the board unanimously agreed to make Bitcoin its primary reserve asset. Since then, MicroStrategy has added to its holdings multiple times and boldly continued to buy even when the price fell below the cost.
With Bitcoin approaching $53,000, MicroStrategy’s long-term investment of capital and its holdings of 190,000 Bitcoins are now worth close to $10 billion.
Michael Saylor also emphasized in this interview that MicroStrategy is a stock with a leverage effect of Bitcoin.
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Bitcoin Surpasses $52,000, MicroStrategy’s Bitcoin Holdings Approach $10 Billion
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Michael Saylor
MicroStrategy
Bitcoin
Further Reading
Bitcoin Surpasses $52,000, MicroStrategy’s Bitcoin Holdings Approach $10 Billion
Michael Saylor: Demand for Bitcoin Spot ETF is 10 Times the Supply, Will Continue to Buy Bitcoin