Michael Saylor Says He Owns More Than $1B in Bitcoin
Pro-Bitcoin enthusiast and MicroStrategy co-founder Michael Saylor has revealed owning over $1 billion in Bitcoin. He talked about his personal BTC stash in an interview with Bloomberg on Wednesday.
The crypto community has long debated how much Saylor personally owns, as the MicroStrategy executive chairman last talked about his BTC portfolio in 2022. The Wednesday interview, however, didn’t resolve the question as Saylor didn’t state the actual amount of the asset he has secured for himself.
The over $1 billion revelation might mean Saylor has not added much to the 17,732 BTC he last revealed, which would be worth $975 million at the current market price.
Saylor’s statement places him on an exclusive list of individuals with large Bitcoin holdings. Data showed the MicroStrategy founder is among the top six whales, along with Satoshi Nakamoto, Gemini’s Winklevoss twins, Brain Armstrong, Changpeng Zhao, and Tim Draper.
Bitcoin, the Cyber Manhattan
When quizzed on the appropriate time to buy Bitcoin, the MicroStrategy co-founder stated there was no good or bad time to acquire the asset.
“We look at Bitcoin as cyber Manhattan. So, there is never a bad time to buy a scarce, desirable real estate in the greatest city in North America. There is never a bad time to buy Bitcoin, so we will just generally acquire it whenever we have cash,” Saylor said.
Saylor further stated that Bitcoin’s volatility is a feature, not a bug. He noted that the asset’s volatility is because it is functional. Bitcoin fell from $70,000 to $48,000 in just eight days.
“The volatility creates tens of billions of dollars of credit and liquidity at all times. But over the long term, that volatility is driving superior asset performance and durability,” he added.
The Wednesday interview was one of Saylor’s many public descriptions of Bitcoin as the best digital asset in the market. He has made incredible price predictions for Bitcoin, including a $49 million bull case price call for the asset by 2045.
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