Michael Saylor, CEO of MicroStrategy, has made it clear that he has no intentions of selling his Bitcoin holdings, despite the company’s unrealized profit of nearly $4 billion. In fact, Saylor stated that he plans to continue buying Bitcoin indefinitely, as he views it as the ultimate exit strategy. In an interview with Bloomberg, he emphasized his belief that Bitcoin is technologically superior to gold, the S&P 500, and real estate, despite their larger market capitalizations. Saylor predicts that capital will continue to flow from these asset classes into Bitcoin.
MicroStrategy, a business intelligence software firm, made headlines in 2020 when it became the first publicly traded company to invest in Bitcoin. As of the fourth quarter of 2023, the company held 190,000 BTC, with an average investment cost of $31,224 per Bitcoin, totaling $5.93 billion.
According to data from HODL15Capital, US-based spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust, currently hold an estimated 270,000 BTC. Saylor attributed the demand for Bitcoin to the increasing appetite for ETF products, which has outpaced the supply from miners by up to ten times.
Despite concerns that the ETFs would make it more challenging for MicroStrategy to acquire Bitcoin, Saylor dismissed these worries, stating that the company has a leveraged operating strategy for investing in the digital asset. He sees spot ETFs as a gateway for institutional capital to enter the Bitcoin ecosystem, facilitating the digital transformation of capital. Saylor believes that this trend will benefit the entire cryptocurrency market.
In conclusion, Michael Saylor remains steadfast in his commitment to Bitcoin, with no plans to sell his holdings. He sees Bitcoin as the superior asset and believes that the increasing demand from institutional investors will continue to drive its value.