MicroStrategy’s Michael Saylor Continues To Expand His $1B Bitcoin Holdings

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In an interview on Bloomberg TV, MicroStrategy co-founder and Executive Chairman Michael Saylor emphasized his commitment to $BTC.

Saylor has been one of $BTC’s most vocal supporters for years. Read on to learn more about Saylor’s $BTC holdings and strategy. 

A Look Into Michael Saylor’s $BTC Holdings

In August, Saylor told Bloomberg TV that he hadn’t sold any of his $BTC since tweeting four years ago that he owned 17.7K $BTC.

Saylor also revealed that he has no plans to sell his $BTC stash, emphasizing his commitment to expanding his $BTC holdings and investing in other digital tokens.

#Bitcoin is a capital investment you can hold for decades that a corporation, competitor, counterparty, or country can’t take away from you. It will create generational wealth for your family, corporation, or country. pic.twitter.com/amQNn4JQwR

— Michael Saylor⚡️ (@saylor) August 7, 2024

The presidential candidate Donald Trump and Senator Cynthia Lummis proposed creating a US strategic $BTC reserve. 

Senator Cynthia Lummis previously filed The Bitcoin Act, which directed the Treasury to purchase 1M $BTC. In July, Donald Trump also promised to ‘never sell $BTC’ if he becomes president at the Bitcoin 2024 Conference in Nashville. 

Embracing $BTC’s Volatility

Despite $BTC fluctuations, Saylor asserted that its volatility is ‘a feature and not a bug.’ 

MicroStrategy began buying $BTC in August 2020 and has since been accumulating it as part of its long-term investment strategy.

Although $BTC dipped below $50K this week, MicroStrategy acquired an additional 169 $BTC for $11.4 M, boasting an impressive aggregate of approximately 226.5K $BTC.

MicroStrategy’s stock increased over 9% in the last 24 hours, while $BTC experienced a 6.12% increase and now trades at $60.7K. As the value of $BTC surges, so does the firm’s $BTC stash value – the total worth of their portfolio.

Beyond the Horizon

While Saylor emphasizes the importance of HODLing, we strongly remind you to DYOR before investing in any crypto. 

Will the next few months be a turning point for crypto amid US presidential elections? We’ll have to wait and see.

References

• The Bitcoin Act (Bitcoin Strategic Reserve Bill)
• There’s Never a Bad Time to Buy Bitcoin, Michael Saylor Says (Bloomberg TV)