NewsletterMichael Saylor Stays Positive on Bitcoin; Places it Above MicroStrategy Shares
Highlights
- Michael Saylor gave surprising remarks and shocked everyone by giving Bitcoin greater credit than the company's stocks.
- MicroStrategy has garnered major attention as it continues to add more Bitcoin to its holdings.
- Michael Saylor's optimism over Bitcoin is not new but has stayed in place for a long time.
MicroStrategy co-founder Michael Saylor in an interview expressed his optimism over Bitcoin trading. However, the most intriguing of the interviews was Michael Saylor giving preference for Bitcoin investments over MicroStrategy shares. The remark comes at a time when Bitcoin prices have tumbled nearly 1.5% in the last 24 hours, while MicroStrategy shares are trading up 3%.
Michael Saylor Gives Preference to Bitcoin
At the Abundance Summit, MicroStrategy’s Michael Saylor gave surprising remarks and shocked everyone by giving Bitcoin greater credit than the company’s stocks. Saylor said that he believes Bitcoin will be there for “centuries,” but he and his business are ephemeral.
MicroStrategy’s Bitcoin Holdings
With the cryptocurrency market currently experiencing tumultuous trading, MicroStrategy has garnered major attention as it continues to add more Bitcoin to its holdings. Previously, MicroStrategy added more BTC in its reserves than some of the most potent governments in the world, including those in the United States and China, according to its most recent acquisition.
In the meanwhile, despite recent declines in price, Saylor’s audacious action demonstrates his unwavering faith in BTC. Furthermore, MicroStrategy currently has around 1% of the entire BTC supply.
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Michael Saylor’s Optimism on BTC Not New
Michael Saylor’s optimism over Bitcoin is not new but has stayed in place for a long time. In a recent interview with CNBC, he also expressed his upbeat outlook on Bitcoin. Saylor is adamant that BTC will surpass gold because of its built-in advantages and exciting future growth prospects in contrast to conventional precious metals.
He explicitly mentioned the impending April halving event as a key driver of the anticipated spike in the price of BTC. Michael Saylor explained the rationale for the halving, pointing out that it slows down the creation of new Bitcoins and is expected to restrict the natural supply from sellers, which would raise demand and drive up prices. Saylor’s comments have highlighted the growing competition between BTC and gold, indicating BTC’s ascendancy as a substitute store of value.
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