MicroStrategy co-founder and executive chairman Michael Saylor said in a recent interview that the software firm will continue buying Bitcoin (BTC) indefinitely, given how they see it as “the exit strategy.”
This comes as MicroStrategy’s BTC cache has ballooned to reach an unrealized profit just shy of $4 billion.
Opening The Floodgates For Institutional Capital
MicroStrategy has no plans to sell its Bitcoin holdings despite its dramatic gains this year.
Speaking during an interview with Bloomberg Television on Feb. 20, Michael Saylor said the shiny new BTC exchange-traded funds (ETFs) have opened a getaway for institutional money to pour into the Bitcoin space, with demand surpassing the current supply produced by miners.
“If you look at what the spot ETFs are doing, they’re facilitating the digital transformation of capital. And every day, hundreds of millions of dollars of capital is flowing from the traditional analog ecosystem into the digital economy.”
Highlighting his bullish case for BTC, Saylor claimed the alpha cryptocurrency is “technically superior” to gold, the S&P index, and even real estate, despite each asset class boasting a far bigger market cap than Bitcoin’s $1 trillion.
“We believe capital is going to keep flowing from those asset classes into bitcoin because Bitcoin is technically superior to those asset classes and that being the case, there’s just no reason to sell the winner and to buy the losers,” Saylor posited.
Saylor’s Unshakable Belief
As the largest public holder of Bitcoin, MicroStrategy has amassed over 190,000 BTC, worth approximately $10 billion — with nearly $4 billion of that profit. The Tyson, Virginia-based firm started stocking up on the biggest cryptocurrency back in August 2020. Notably, Saylor’s Bitcoin investment strategy has been anything but traditional.
“I’ve famously said, I’m going to be buying the top forever,” Saylor said. “Bitcoin is the exit strategy, it is the strongest asset, so what we see right now is that Bitcoin just emerges as a trillion-dollar asset class. And it’s alongside names like Apple, Google and Microsoft.”
Saylor further dismissed concerns that the spot Bitcoin ETFs would make it harder for MicroStrategy to purchase BTC, noting that the company implements a “levered operating strategy” for investment in the crypto asset.
It pays to recall that MicroStrategy rebranded itself as a “Bitcoin development company” in its Q4 earnings presentation, emphasizing its commitment to the continued development of BTC.
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