MicroStrategy founder Michael Saylor never sold one Satoshi, he bought 88,000 Bitcoin either through MicroStrategy
In a new interview on Funky Crypto Podcast, MicroStrategy’s co-founder and CEO Michael Saylor said he bought tens of thousands of Bitcoins through the various institutions he is affiliated with. Furthermore, he also revealed how much Bitcoin he has amassed.
MicroStrategy’s co-founder and CEO Michael Saylor
MicroStrategy founder and CEO Michael Saylor is revealing just how much Bitcoin he’s amassed
At current prices around $ 29,000, the total Bitcoin that Saylor owns is worth more than $ 2.5 billion.
He stated:
“I have bought either through MicroStrategy or through entities I control, 88,000 Bitcoin. I never sold one Satoshi.”
In the interview, Saylor favors a long-term holding strategy when asked whether Bitcoin investors should make some profit right now as the cryptocurrency continues to hit new record highs:
“I think the way you use Bitcoin is as a long-term savings account. So, if you want to have a portion of your money that you like to gamble with and speculate with and bet on things you are passionate about, take that part of your money and invest it in new ventures or invest it in cool things. Take another portion of your money that you want to save for the next 20 years or 30 years and put that in Bitcoin. Just leave it there, and don’t get caught up in all the back and forth…”
He even strained people even more by asking the question of how would you feel if you sold Bitcoin at $ 27,000 and then increased further on the following days?
He added:
“How are you going to feel if you sell it at $27,000 and then you wake up one morning and it goes to $82,000… when it goes to $167,000… when it goes to a million. When it goes to a million, are you going to be bragging that you bought it at $0.019 million and you sold it at $0.022 million? Aren’t you going to feel freaking stupid? Like I bought it at $0.019 million and I sold it at a 50% gain at $0.023 million and I lost a million!”
Saylor also said that he believes that the volatility experienced in Bitcoin’s first decade is unlikely to be repeated in the future. Because, in the first decade, Bitcoin was dominated by a series of traders with leverage on foreign exchanges and they were speculators.
And now, the Bitcoin market has insurance companies, corporations, treasury, institutional investors. They are buying Bitcoin instead of gold. They’re buying it to keep it on for a decade as a hedge against inflation. They don’t use leverage, they don’t use offshore exchanges, they are not speculators.
You can see the BTC price here.
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