MicroStrategy plans to continue growing its Bitcoin holdings and raising additional capital to continue its Bitcoin strategy. This is because Michael Saylor is a strong believer in Bitcoin and believes in the currency’s potential.
Michael Saylor, CEO of American business intelligence, mobile software and cloud-based services company, MicroStrategy Incorporated (NASDAQ: MSTR), recently announced how much Bitcoin (BTC) he owns. Saylor is known to be a strong supporter of the currency and has over 17,000 BTC. At the current BTC price, its holdings are worth more than $ 850 million.
BREAKING π₯ Michael Saylor announces that he personally owns 17,000 #Bitcoin worth over $ 850 million π₯ pic.twitter.com/dBH76OVgKH
– Bitcoin Magazine (@BitcoinMagazine) December 22, 2021
Apparently, Michael Saylor has not bought any Bitcoin since October 2020. Back then, his tweet stated that he owned 17,732 BTC. Saylor acquired the coins when their price was around $ 10,000.
Some have asked how much #BTC I own. Personally, I #hodl 17,732 BTC, which I bought for $ 9,882 each on average. I informed MicroStrategy of these stocks before the company decided to buy #Bitcoin for themselves.
– Michael Saylorβ‘οΈ (@saylor) October 28, 2020
It is noteworthy that his company MicroStrategy has its own Bitcoin inventory itself. The company reportedly owns 122,478 BTC, valued at over $ 6 billion. It made its first foray into BTC in 2019. At that time, the company bought the well-known digital currency worth about $ 250,000. In 2020, MicroStrategy again invested heavily in BTC. Saylor’s company last bought earlier this month when it bought $ 82 million worth of BTC.
MicroStrategy plans to continue growing its Bitcoin holdings and raising additional capital to continue its Bitcoin strategy. This is because Michael Saylor is a strong believer in Bitcoin and believes in the currency’s potential. According to Saylor, the price could eventually reach as high as $ 6 million per coin. Furthermore, the MicroStrategy CEO doesn’t believe that you “should sell your bitcoin”.
Saylor said:
“One day billions of people will own digital property, we want to get there before billions of people get there.”
He added:
βOur macro strategy is to focus on Bitcoin. I can put bitcoin into the entire digital economy and it makes everything better. Bitcoin fixes everything. The least risky and most diversified investment strategy is to simply hold Bitcoin. “
The company’s main goal is to buy and hold Bitcoin. Despite returns of around 5% per year, MicroStrategy has no intention of pursuing return strategies like Bitcoin-covered loans.
Top Bitcoin Investors
Notably, Michael Saylor has a number of rivals on the list of most prominent investors in Bitcoin. Other big supporters of the currency are Barry Silbert, Cameron and Tyler Winklevoss, Michael Novogratz, and of course Elon Musk.
Barry Silbert is the founder and CEO of Digital Currency Group, the parent company of Grayscale Bitcoin Trust (GBTC), the largest Bitcoin trust in the world. According to the latest data, Grayscale owns approximately 3.4% of the global supply of bitcoin and 46% of the 1.4 million bitcoin currently held by public companies.
Cameron and Tyler Winklevoss, founders of the Gemini exchange, hold around 100,000 bitcoins valued at around $ 4.8 billion.
Additionally, Michael Novogratz, CEO of Galaxy Digital Holdings stated that cryptocurrencies account for 85% of his net worth. He also believes Bitcoin will stay above the $ 42,000 mark.
Finally, Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), owns Bitcoin, Dogecoin (DOGE), and Ethereum (ETH). This year, Tesla has made the news several times due to its heavy investments in Bitcoin. The company is expected to start accepting payments in crypto soon.
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Daria is a business student and is interested in the development of modern technologies. She wants to know as much as possible about cryptos because she believes it can change our view of finance and the world in general.
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