- In August 2020, Michael Saylor’s MicroStrategy made its first Bitcoin purchase.
- MicroStrategy stock has hit a 25-year high of $236.
The co-founder of MicroStrategy, Michael Saylor has transformed the firm’s financial approach by making Bitcoin at the core of its asset strategy. Saylor turned to Bitcoin, describing it as the “digital gold.”
In August 2020, MicroStrategy made its first Bitcoin purchase, acquiring 21,454 Bitcoin for $250 million, citing the potential of Bitcoin as a hedge against inflation and a promising store of value.
It is crucial to note that by September 2024, MicroStrategy had become one of the largest corporate holders of Bitcoin with 244,800 Bitcoin. This resulted in a total investment worth nearly $9.45 billion. Besides, Saylor predicted that Bitcoin’s value could reach $13 million per coin by 2045 if it captures 7% of global financial capital.
On the other hand, by using traditional financial systems like the stock market, Michael Saylor made the asset more accessible. He’s encouraging the public to buy stocks of companies that hold Bitcoin, like MicroStrategy. His strategy of integrating Bitcoin into regulated markets could make it harder for governments to impose restrictive regulations.
MicroStrategy Hits Another High
Recently, Michael Saylor’s MicroStrategy stock (MSTR) hit a 25-year high of approximately $236, surging 7%. It reflects a stock rally specifically driven by the BTC holdings strategy approach. The firm stood with a current market cap of $47 billion, which outperformed others in the S&P 500 index and outpaced Microsoft’s growth since 1999.
On the other hand, Saylor’s vision involves the use of debt to buy Bitcoin as it is a hedge against inflation. His vision includes leveraging debt and equity to raise capital at low interest rates for investing in Bitcoins. It could make MicroStrategy the first trillion-dollar bank of Bitcoin. Michael Saylor mentioned that Bitcoin is the most valuable asset in the world and the endgame is to be the leading Bitcoin bank.
At the time of writing, the largest cryptocurrency in the market is trading at $68,594, gaining over 2.30%. The daily trading volume of the asset has soared by 50% to $22.57 billion, as per CMC data. Notably, BTC is only 6% away from its all-time high price record at $73,750.
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Source: https://thenewscrypto.com/michael-saylors-bitcoin-investment-strategy-buy-high-buy-low-buy-btc/