Bitcoin

Bitcoin Advocate Michael Saylor Says He Will Never Sell Bitcoin

Key Points:

Bitcoin advocate Michael Saylor stands firm on holding their significant Bitcoin reserves amidst growing institutional interest sparked by spot Bitcoin ETFs.
With over 190,000 Bitcoins valued at $10 billion, MicroStrategy continues its unconventional investment approach.

MicroStrategy’s co-founder and chair, Bitcoin advocate Michael Saylor, reiterated his firm commitment to Bitcoin (BTC), stating in an interview with Bloomberg TV on Tuesday that he has no immediate plans to sell any of MicroStrategy’s Bitcoin holdings.

Bitcoin Advocate Michael Saylor Commits to Holding Bitcoin Reserves

Saylor emphasized that the recently approved spot Bitcoin ETFs have paved the way for institutional capital to enter the Bitcoin ecosystem, surpassing the current supply.

With MicroStrategy holding a substantial 190,000 bitcoins, valued at around $10 billion, Saylor highlighted their unconventional investment approach in Bitcoin. Despite purchasing these coins at an average of $31,224 per coin, with the current trading price at roughly $52,000, the company has seen profits soar to approximately $4 billion.

Saylor’s steadfast belief in Bitcoin as the strongest asset is reflected in MicroStrategy’s ongoing accumulation of BTC. He famously stated, “I’m going to be buying the top forever,” underscoring his conviction in Bitcoin’s potential. Saylor views Bitcoin not only as an investment but also as an exit strategy, comparing its emergence as a trillion-dollar asset class to tech giants like Apple, Google, and Microsoft.

MicroStrategy’s Unconventional Bitcoin Investment Yields Substantial Profits

Despite MicroStrategy’s widening losses, the company continued to allocate funds to Bitcoin throughout last year. In January, Bitcoin advocate Michael Saylor further demonstrated his commitment by selling $216 million in personal MicroStrategy stock options to bolster the company’s Bitcoin holdings.

As the adoption of Bitcoin grows and institutional interest surges, Saylor remains resolute in his belief in Bitcoin’s long-term value, positioning MicroStrategy at the forefront of the digital economy’s transformation.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.