[2024-08-08] Michael Saylor Continues to Expand His $1 Billion ...

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Michael Saylor Continues to Expand His $1 Billion Personal Bitcoin Holdings

Microstrategy’s executive chairman, Michael Saylor, has revealed that he continues to add to his personal bitcoin holdings, which total at least 17,732 BTC. He disclosed this amount four years ago and has not sold any since, continuing to buy more. Saylor views bitcoin as an ideal investment for individuals, families, corporations, and countries. Meanwhile, Microstrategy reported holding 226,500 bitcoins in the second quarter.

Michael Saylor Continues to Buy More Bitcoin Personally

Michael Saylor, co-founder and executive chairman of Microstrategy Inc. (Nasdaq: MSTR), shared some information about his personal bitcoin investment in an interview on Bloomberg Television on Wednesday.

Replying to a question about how much bitcoin he owns, Saylor said:

I do have significant personal bitcoin holdings. About four years ago, I tweeted that I had about 17,732 bitcoins. I haven’t sold any bitcoin. I continue to acquire more bitcoin.

When asked about his current bitcoin holdings, Saylor did not specify a number but replied, “At least that much,” referring to his previous disclosure of 17,732 BTC. As of Wednesday, with bitcoin trading at $54,956, Saylor’s stash, which appears to have grown, is now likely worth over $1 billion.

The Microstrategy executive chairman highlighted bitcoin as a top investment option for individuals, families, corporations, and countries, stating:

Bitcoin is a capital investment you can hold for decades that a corporation, competitor, counterparty, or country can’t take away from you. It will create generational wealth for your family, corporation, or country … I can’t see a better place to put my money.

Microstrategy, an enterprise software company that has branded itself the first bitcoin development company, started investing in BTC in 2020 as an inflation hedge. By the end of July, the firm had amassed 226,500 bitcoins. Despite reporting a second consecutive quarterly loss due to an impairment charge on its $13 billion bitcoin holdings, the company’s shares have skyrocketed nearly 1,000% since it began its cryptocurrency acquisitions. During the same period, bitcoin’s value has increased by more than 500%.

Saylor recently predicted that bitcoin could reach $49 million by 2045 in an optimal “bull” scenario. Speaking at the Bitcoin 2024 Conference in Nashville, Tennessee, he outlined his forecast, which also includes a base case of $13 million and a bear case of $3 million. He bases this outlook on bitcoin’s potential to revolutionize financial systems and its superior resistance to inflation compared to traditional assets. Saylor envisions bitcoin as a primary treasury asset, essential for economic stability and substantial wealth accumulation.

Source: https://news.bitcoin.com/michael-saylor-continues-to-expand-his-1-billion-personal-bitcoin-holdings/

[Davidvictorson]

Mr Saylor for me is a bitcoin ambassador. He has always acted out his beliefs about bitcoin and he continues to live by example. I watched the interview and I can say that he practices what he beliefs. He is so smart and understands the bitcoin landscape that he doesn't think any one should wait for the market price to drop before buy. He rather has been preaching buying consistently whenever possible. And that is a principle I stand by. Someone like him in decades to come will make his company, Microstrategy Inc one of the most profitable in the world with the likes of Google, Apple, Nvidia, Microsoft etc