MicroStrategy CEO Michael Saylor Explains Why He Is Bullish on Bitcoin

At the Bitcoin Conference 2022, MicroStrategy CEO Michael Saylor stated that he is more positive on bitcoin than he has ever been. As of April 4, 2022, MicroStrategy, one of the major bitcoin acquisition organizations, had amassed approximately 129,218 Bitcoins.

It made its most recent buy on April 5, 2022, when it paid $194 million for 4,167 BTC. The corporation also borrowed $205 million from Silvergate bank in February to buy 660 bitcoins.

The purchasing cost per BTC is estimated to be around $30,700 based on the whole purchase history.

Despite the overall market condition, Michael Saylor believes he is more bullish on bitcoin than ever. Let’s look at the explanation for this.

MicroStrategy’s long term bitcoin strategy

Michael Saylor said at the Bitcoin Conference that “if he scans the last hundred years of history and if he asked when’s the last time the President of the United States directed the government to embrace a new asset class, the answer is never.”

So I think bitcoin should be taking a victory lap for what happened here just in the past few weeks in the United States government.

He added to his conversation that a year ago, the government considered bitcoin an eastern technology, and the government was either going to ban it as they were afraid of it.

Michael believes that in the last 12 months, bitcoin has moved west, it has been embraced, and the administration has given the green light to bitcoin. He said that Congress and the Senate are enthusiastically figuring out bitcoin.

“There is a little jockeying about who can be the most pro-bitcoin politician.”

“The momentum is certainly behind bitcoin,” he said at the end of the conversation.

MicroStrategy’s bitcoin strategy is to HODL it for the long run, as stated in the statement. The organization wants to remain ahead of the curve when it comes to technology adoption and does not want to be left behind. Despite the ups and downs, Saylor appears to remain steadfast in his bitcoin decision.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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