Michael Saylor, the visionary behind MicroStrategy, champions Bitcoin Investment
In a recent discussion with Bloomberg dated August 7, 2024, Michael Saylor, the founder and executive chairman of MicroStrategy, underscored the advantages of acquiring Bitcoin (BTC) regardless of market dynamics. Saylor firmly believes in the merit of investing in Bitcoin at any given moment, asserting, “We are firm believers in procuring Bitcoin whenever resources are available, be it through cash holdings or capital market funding.”
MicroStrategy’s substantial Bitcoin accumulation of 226,500 BTC positions the company as one of the premier corporate holders in the cryptocurrency sphere. Despite the notorious volatility associated with Bitcoin, Saylor asserts its supremacy over other investment avenues.
Grilled about MicroStrategy’s actions amidst the recent market turbulence that plummeted Bitcoin to $50,000, Saylor disclosed the company’s steadfast strategy of scheduled Bitcoin acquisitions aimed at long-term growth. Within July 2024 alone, MicroStrategy boosted its Bitcoin holdings by an additional 169 Bitcoin, valued at over $11 million.
Saylor accentuates comprehending Bitcoin’s volatility as an intrinsic feature that separates it from conventional assets. He heralds Bitcoin as a foundational investment conduit capable of generating substantial wealth over generations for individuals, corporations, and nations due to its immutable nature.
Propelling beyond MicroStrategy’s assets, Saylor unveils his personal Bitcoin portfolio valuing an impressive $1 billion. His recent social media rallying cry advocating for others to “PURCHASE BITCOIN” further accentuates his allegiance to the cryptocurrency.
Currently, Bitcoin hovers near $55,955, experiencing a slight 1.5% decline in value over the past 24 hours. Concurrently, the cryptocurrency’s trading volume witnessed a 26% dip during the same timeframe, portraying the ongoing turbulence within the crypto market.
In summation, Michael Saylor’s resolute backing of Bitcoin as a prudent long-term investment avenue underscores the capability of Bitcoin to foster enduring value for investors, companies, and economies alike.
