- Michael Saylor, the executive chairman of Microstrategy, disclosed that he keeps adding to his personal bitcoin holdings, which now stand at a minimum of 17,732 BTC.
- He revealed this sum four years ago, yet he hasn’t sold anything since while still purchasing more. Saylor believes that bitcoin is the best investment for people, families, businesses, and nations. Microstrategy, meanwhile, disclosed that it had 226,500 bitcoins as of the second quarter.
Michael Saylor is still buying himself bitcoins
In an interview on Bloomberg Television on Wednesday, Michael Saylor, co-founder and executive chairman of Microstrategy Inc. (Nasdaq: MSTR), disclosed a few details regarding his individual bitcoin investment.
Saylor answered an inquiry about his current bitcoin holdings by saying, At least that much. He did not provide a specific amount, citing his earlier disclosure of 17,732 BTC. Saylor’s cache looks to have increased, and as of Wednesday, when bitcoin was trading at $54,956, it is probably worth more than $1 billion.
In 2020, as a hedge against inflation, corporate software company Microstrategy—dubbed the first bitcoin development company—began investing in bitcoin. The company had collected 226,500 bitcoins by the end of July.
Even though the company posted a loss for the second quarter in a row because of an impairment charge on its $13 billion in bitcoin assets, its shares have increased by almost 1,000% since it started buying cryptocurrencies. In the same time frame, bitcoin has seen a value growth of almost 500%.
Saylor recently estimated that, under ideal bull market conditions, bitcoin might hit $49 million by 2045. During his speech at the Bitcoin 2024 Conference in Nashville, Tennessee, he presented his prediction, which also includes a $13 million base scenario and a $3 million bear case.
His prediction is supported by the fact that bitcoin has the ability to completely transform financial systems and that it is more resistant to inflation than conventional assets. Saylor sees bitcoin as the main treasury asset that is necessary for significant wealth building and economic stability.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
