Michael Saylor, Executive chairman of MicroStrategy, is however on the other hand pressing forward with his bullish call on bitcoin. Even without Bitcoin holdings at its current paper gains of more than 70% in its possession, Saylor continues to adhere to his “buy and hold” strategy.
In a recent interview, Saylor recognizes the advent of Bitcoin ETFs as an advantage, creating an opportunity for institutions to gradually join. He thinks this shows the demand from such institutions out-paces the fresh supply of new Bitcoins daily, which may mean a bullish view on the cryptocurrency.
When Saylor was asked by journalists whether he took any profit from his $10 billion Bitcoin split, Saylor was quite unflappable. In a more famous statement, he declared himself to as “buy the top forever,” and essentially considered Bitcoin itself as the exit way out, and a very strong asset, which was the only one you could rely on even in the toughest times.
Saylor used a parallel between Bitcoin’s rise to $ 1 trillion market cap with Apple Inc and Google Inc, yet, he stresses that Bitcoin’s unique nature as a non-company asset, with the ability to withstand the huge capital influx that he expects, is the key element here.
Moreover, the reduction in volatility of Bitcoin will lead to investors moving away from more traditional assets like gold and real estate and towards Bitcoin, due to its other attributes that include the technical superiority in terms of storage of value.
Bitcoin’s staying power is very strong to Saylor, and thus he doesn’t see the redeem to sell and switch to poor performing assets. He once told a news reporter, “There is no reason to sell the winner to buy the losers.” The commitment is in his previous words, where he said, “I am married to Bitcoin.
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