Michael Saylor, MicroStrategy’s co-founder and executive chairman, has recently revealed that he owns more than $1 billion in Bitcoin (BTC). In an interview with Bloomberg, he stated that Bitcoin is the best investment asset. Michael Saylor’s comments come at a time when Bitcoin is still becoming more popular, even with the fluctuations in the market.
Michael Saylor Discloses Vast Bitcoin Holdings
Michael Saylor revealed that he owns more than 17,732 BTC, acquired for approximately $175 million. He captured Bitcoin’s potential by saying it is better than physical and financial capital. In addition, Saylor highlighted cryptocurrency’s capacity to create wealth across different industries.
He proceeded to elaborate on Bitcoin’s volatile nature, explaining that it has the potential to generate a lot of liquidity and credit worldwide. Furthermore, Saylor has suggested that this volatility will affect long-term asset management and resilience. According to the analyst’s optimistic view, Bitcoin’s market capitalization may rise to $280 trillion by 2045.
MicroStrategy Becomes Top Public Bitcoin Holder
MicroStrategy has acquired approximately 226,500 bitcoins, worth about $13 billion, under Michael Saylor’s direction. This strategic move has boosted the company’s stock value and made it the largest publicly traded Bitcoin holder. According to Saylor, this strategic decision helped position MicroStrategy as a strong player in the market and improve its financial position.
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In a recent Bitcoin conference, Saylor suggested that the cryptocurrency could represent 7% of the world’s wealth by 2045, with each Bitcoin costing $13 million. He has estimated that Bitcoin can account for as much as 22% of the world’s wealth in more optimistic scenarios. This, he notes, is due to Bitcoin’s characteristic as a store of value unaffected by any crisis.
Saylor Advocates for US Bitcoin Reserves
Michael Saylor recently backed the BITCOIN Act introduced by Senator Cynthia Lummis, which calls for the US Treasury to acquire 1 million BTC. Comparing it to previous US acquisitions, he referred to it as the Louisiana Purchase. According to Saylor, Bitcoin investment is a strategic move for the nation, making it an important asset for future generations.
Saylor stated,
“Bitcoin is a scarce digital asset that is highly sought after and suitable for long-term investment.”
Saylor’s suggestion of a national strategic reserve of Bitcoin indicates his confidence in the cryptocurrency’s long-term viability.
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Also Read: MicroStrategy Adds 169 Bitcoin Worth $11.4 Million in July 2024
