<

Michael Saylor says he will buy Bitcoin forever

Michael Saylor, the co-founder of MicroStrategy, a software company that has invested heavily in Bitcoin, said in an interview with BloombergTV that he will never stop buying the cryptocurrency. He also praised Bitcoin as the strongest asset and the exit strategy for the future.

Saylor, who has been a vocal advocate of Bitcoin for a long time, said that he is not interested in taking profits or selling his Bitcoin holdings, which are currently worth over $10 billion. He said that he will be “buying the top forever” and that “Bitcoin is the exit strategy, it is the strongest asset.”

He explained that Bitcoin is a new asset class that has emerged as a trillion-dollar phenomenon, and that it is superior to other traditional assets such as gold and stocks. He compared Bitcoin to the “Magnificent 7” companies, such as Apple and Google, that dominate the tech sector, but said that Bitcoin has an advantage over them because it is not a company, but an asset.

“Bitcoin is competing against Gold and the S&P, thus capital can keep flowing in, whereas the Magnificent 7 has caps. There is no reason to sell the winner to buy the losers,” he said.

Saylor also attributed the recent rise of Bitcoin’s price, which has surpassed $51,000 and increased by 5% in the past week, to the growing demand and adoption of the cryptocurrency, especially after the approval of Bitcoin ETFs in the US. He said that he believes that more capital will flow from other 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.”

MicroStrategy, which Saylor leads, has been one of the biggest corporate investors in Bitcoin, having acquired more than 190,000 BTC since August 2020. The company has also rebranded itself as a “Bitcoin development company” in its latest earnings report, signaling its commitment to the cryptocurrency and its vision for the future.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like