- Michael Saylor, the CEO of MicroStrategy, made headlines when he announced that his company had purchased 130,000 Bitcoin.
- Saylor’s decision to invest in Bitcoin was not an impulsive one.
In fact, he spent months studying cryptocurrency before making his move. He was impressed by Bitcoin’s ability to function as a decentralized, secure, and immutable ledger, as well as its potential to act as a non-correlated asset class that could help protect against inflation.
In an interview in December, Saylor stated that he believes Bitcoin is the best store of value available today, comparing it to gold but noting that Bitcoin is “more portable, more divisible, and more secure.” He also suggested that Bitcoin could eventually replace gold as the world’s preferred store of value.
Saylor’s decision to invest heavily in Bitcoin has been vindicated by the cryptocurrency’s strong performance in recent months. Since MicroStrategy’s first Bitcoin purchase in August 2020, the cryptocurrency has seen its price rise from around $11,000 to over $50,000, representing a more than four-fold increase. This has led to MicroStrategy’s Bitcoin holdings increasing in value to over $3 billion as of February 2023.
Saylor’s investment strategy has not been without its critics, however. Some have argued that investing so heavily in a single asset is risky, and that Bitcoin’s price volatility could lead to significant losses for MicroStrategy. Others have suggested that Saylor is simply trying to boost his own company’s stock price by generating buzz around his Bitcoin investments.
Despite these criticisms, Saylor remains bullish on Bitcoin’s long-term prospects. He has repeatedly argued that the cryptocurrency’s potential as a store of value and a hedge against inflation makes it an attractive investment for companies and individuals alike. He has also suggested that Bitcoin’s price volatility will decrease over time as the – cryptocurrency becomes more widely adopted and its market capitalization increases.
Saylor has also become an outspoken advocate for Bitcoin on social media, regularly tweeting about the cryptocurrency and engaging with other members of the Bitcoin community. He has also written a book, “The Bitcoin Standard,” in which he lays out his case for why Bitcoin is the best store of value available today.
Conclusion
Overall, Michael Saylor’s decision to invest heavily in Bitcoin has been a bold one, but it appears to have paid off handsomely so far. Whether Bitcoin will continue to perform well in the long term remains to be seen, but Saylor’s conviction in the cryptocurrency’s potential suggests that he will be holding on to his Bitcoin for the foreseeable future.
Source: https://www.thecoinrepublic.com/2023/02/19/michael-saylor-bought-130000-btc-know-his-opinion/