- Michael Saylor, MicroStrategy’s Chairman, personally holds over US$1 billion in Bitcoin, with 17,732 BTC revealed four years ago and none sold since.
- Saylor says he views BTC as the “apex property of the United States” and an ideal investment for various entities. He even vows to acquire more Bitcoin.
- The company is raising over US$2 billion to acquire more BTC, yet investors remain worried about worse-than-expected quarterly results.
MicroStrategy’s Chairman has revealed he holds over US$1 billion in Bitcoin (BTC). He first revealed his ownership of 17,732 BTC four years ago, and the man has not sold any since.
In an interview with Bloomberg, Saylor highlighted his commitment to BTC and plans to buy more, as he considers it the “apex property of the United States.” This comes as Bitcoin becomes a crucial instrument for politicians seeking to win the hearts of the crypto industry.
I continue to acquire more […] I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.
Michael SaylorRelated: MicroStrategy Raises US $2 Billion to Buy Bitcoin as Questions Emerge Over Cash Flow
No Bitcoin For You
MicroStrategy, the largest public corporate holder of Bitcoin, owns 226,500 Bitcoin — as of late July, valued at around US$8 billion (AU$12.6 billion). The software company started buying BTC back in 2020 as a hedge against rising inflation, going through several ups and downs as the crypto market developed.
MicroStrategy’s stock has surged nearly 1,000% since it began investing in Bitcoin, which has itself increased over 500% during the same period. The company just can’t get enough BTC, so it must hoard it as much as possible; it recently raised US$2 billion (AU$3.04 billion) to buy more… BTC, of course.
Bitcoin is currently trading at US$57,366 (AU$87,607), a 1.12% increase from yesterday and a somewhat positive recovery following the massive sell-off that began in the last two weeks, which pushed BTC down 10.45% as of writing.
Related: Arthur Hayes Claims BTC Will Hit $1M, Says Presidential Outcome Irrelevant
The Fear & Greed Index remains in the Neutral zone, currently at 42. Likewise, the crypto market cap has managed to stay above the US$2 trillion level. Some of today’s top winners are Solana-based memecoins: Popcat (SOL) and dogwifhat (WIF), up over 22% and 14%, respectively. Notably, XRP is on the rise, 20.24%, after a judge settled Ripple Labs’ case against the SEC with a US$125M million (AU$190.6 million) fine.
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