Michael Saylor, the CEO of MicroStrategy, has firmly stated that he has no intention of selling his Bitcoin holdings, even as the company’s profits from the cryptocurrency approach $4 billion. In an interview with Bloomberg on February 20th, Saylor expressed his belief that Bitcoin is the ultimate investment, declaring, “I’m going to be buying the top forever. Bitcoin is the exit strategy.” When asked about the possibility of selling MicroStrategy’s stash of 190,000 BTC, valued at $9.88 billion, Saylor confidently dismissed the idea.
Saylor went on to outline his optimistic outlook for Bitcoin, asserting that it is technically superior to other asset classes such as gold, the S&P 500, and real estate, despite its market capitalization of only $1 trillion. He expressed his belief that capital will continue to flow from these asset classes into Bitcoin, driving its value even higher.
MicroStrategy made history in 2020 as the first publicly traded company to invest in Bitcoin. The 190,000 BTC it currently holds, with an average cost of $31,224 per coin, represents a total investment of $5.93 billion. According to data from HODL15Capital, US-based spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust, currently hold around 270,000 BTC. Saylor observed that the demand for Bitcoin, fueled by the growing popularity of ETF products, far exceeds the supply from miners, sometimes by a factor of ten.
Despite concerns that the availability of ETFs may hinder MicroStrategy’s ability to acquire more Bitcoin, Saylor remained unfazed. He explained that the company employs a leveraged operating strategy to invest in the digital asset, and the ETFs actually provide a gateway for institutional capital to enter the Bitcoin ecosystem. Saylor believes that the rise of ETFs is facilitating the digital transformation of capital, with hundreds of millions of dollars flowing from traditional analog systems into the digital economy every day. He sees this as a positive development that will benefit the entire market.
In conclusion, Michael Saylor’s unwavering commitment to Bitcoin and his bullish outlook for the cryptocurrency demonstrate his belief in its long-term value and potential. MicroStrategy’s significant Bitcoin holdings, combined with the growing demand for the digital asset, position the company and its CEO to reap substantial profits in the future.