The CEO of MicroStrategy Says He Will Continue to Buy and Hold Bitcoin
Saylor is satisfied with the results of his investment strategy in Bitcoin since it had allowed them to expand their digital reserves. The executive thinks the migration of Chinese miners has contributed to decentralizing that business, benefiting Bitcoin, the US dollar, and Western technology.
In recent days, MicroStrategy CEO Michael Saylor revealed that he owns more than 105,000 BTC, worth about USD 4 billion. He also promised that he would continue to buy the pioneering cryptocurrency in the coming months.
The executive provided that information while MicroStrategy was reporting the results for the second quarter of this year. He particularly expressed that he was satisfied with the results they had obtained thanks to his investment strategy in Bitcoin.
Saylor noted that their latest capital increase has allowed them to expand their digital reserves. Right now, they exceed 105,000 BTC, to which he said that they intended to implement additional capital.
He makes those remarks at a time when Bitcoin seems to be recovering. Currently, the cryptocurrency is trading around USD 41,600 and has achieved a market capitalization of about USD 781 billion, according to CoinGecko.
Michael Saylor Announces Plans to Acquire More Bitcoin
Some investors and journalists are concerned about MicroStrategy’s approach due to the decline of Bitcoin. Saylor confirmed that his firm would remain on the same path since they see the current situation as an excellent opportunity.
Regarding their macro strategy, he said that they plan to continue to acquire and hold Bitcoin. He also announced that they would help explain the cryptocurrency to regulators, the public, and the media.
Additionally, Saylor commented that acquiring Bitcoin right now would be a wise move for the company. As they consider there is hoarding, they have committed to buying as much Bitcoin as possible.
Faced with the idea of investing in other cryptocurrencies such as Ethereum, Saylor confirmed that their strategy was to focus on Bitcoin. He explained that the pioneering cryptocurrency serves as a meeting point for the entire digital economy, being the least risky and most diverse idea.
MicroStrategy representative Phong Le supported Michael Saylor’s comments and revealed that the investment had produced returns for shareholders.
Curiously, he stated that MicroStrategy is in the early stages of that strategy concerning Bitcoin and added that they want to make other investments.
Saylor Wants Western Countries to Stop Rejecting the Crypto Revolution
Michael Saylor also expressed satisfaction with the investment and said there was a better economic environment for Bitcoin. He made those statements despite the negative news that seems to have discouraged retail investors in recent times.
The CEO of MicroStrategy thinks the migration of Chinese miners was excellent for Bitcoin, as it allowed decentralizing mining worldwide. He also believes that the westernization of Bitcoin will be good for Bitcoin, the US dollar, and Western technology in the long term.
According to Saylor, it is time for more Western governments to stop rejecting the crypto revolution. He thinks they should be more open to adopting crypto innovations and using them to improve finance, the economy, and society.
Despite the fall in the prices of Bitcoin, Michael Saylor considers that MicroStrategy’s strategy keeps it at its center. It is the most secure and most diverse investment that the company currently manages.
By Alexander Salazar