Michael Saylor Reveals MicroStrategy’s Bitcoin Buying Strategy
The post Michael Saylor Reveals MicroStrategy’s Bitcoin Buying Strategy appeared first on Coinpedia Fintech News
On August 7, 2024, during an interview with Bloomberg, Micheal Saylor, the executive chairman and founder of MicroStrategy said there’s never a bad time to buy Bitcoin (BTC). He also added, “We believe in buying Bitcoin whenever we have cash or whenever we can raise money in the capital market.”
Micheal Saylor’s words on Bitcoin
Saylor is a pro-Bitcoin, and under his leadership, MicroStrategy has acquired a significant 226,500 BTC, making it one of the largest corporate holders. During the interview, he also said that Bitcoin is very volatile but it is a superior asset compared to any other option the market has.
Did MicroStrategy Buy Bitcoin in the market crash?
However, when the panelists asked Saylor if he dived in when Bitcoin crashed to $50,000, he answered that they are always buying Bitcoin “quarter by quarter by quarter.” He also added this is a long-term strategy. In July 2024, MicroStrategy added a decent 169 Bitcoin worth more than $11 million.
Apart from this, Saylor also urged investors and traders to understand that Bitcoin’s volatility is a feature, not a bug. He also noted,
“Bitcoin is a capital investment you can hold for decades that a corporation, competitor, counterparty, or country can’t take away from you. It’ll create a generational wealth for your family, your corporation, or your country.”
Micheal Saylor’s personal Bitcoin holding
Along with this, Micheal Saylor also disclosed his personal BTC holding, according to data he currently holds a significant $1 billion worth of Bitcoin. Prior to the market crash, Saylor made a post on X, where he shared “everybody knows the rules” while adding a “BUY BITCOIN” poster, as reported by Coinpedia on August 4, 2024.
At press time, Bitcoin is trading near $55,955 and has experienced a price drop of over 1.5% in the last 24 hours. Due to the massive volatility, its trading volume has dropped by 26%, during the same period.
