MicroStrategy CEO Michael Saylor Unveils His Definitive Plan for Exiting Bitcoin Investments
In a recent interview with Bloomberg TV, MicroStrategy CEO Michael Saylor expressed his unwavering dedication to Bitcoin, proclaiming it as the ultimate “exit strategy” and dismissing any notion of selling the company’s substantial BTC holdings.
MicroStrategy currently holds 190,000 bitcoins, which were acquired at an average cost of $31,224 per coin. With Bitcoin’s current trading price at around $52,275.60, the company’s holdings are valued at approximately $10 billion, resulting in a significant profit of $4 billion.
Despite these impressive profits, Saylor firmly believes that “Bitcoin is the exit strategy,” highlighting its superiority over traditional assets such as gold, real estate, and the S&P index.
During the Bloomberg TV interview, Saylor expressed his unwavering stance on buying Bitcoin indefinitely, as he strongly believes in its store of value properties and its potential as a hedge against inflation. MicroStrategy embarked on its Bitcoin accumulation journey in August 2020 and has consistently increased its portfolio since then. Saylor’s commitment is evident in the recent purchase of 850 BTC at a cost of $37.5 million, with a cost basis of $31,464.74 and an unrealized profit of $3.505 billion.
Taking a bold step, the company rebranded itself as a “bitcoin development company” in its fourth-quarter (Q4 2023) earnings report, emphasizing its dedication to Bitcoin. MicroStrategy shares have seen a 11.8% surge year-to-date, reflecting investor confidence in Saylor’s strategic approach.
Saylor stated, “We will develop software, generate cash flow, and leverage the capital markets, all to accumulate more Bitcoin.”
Meanwhile, MicroStrategy’s share price has skyrocketed 466% since August 2020, outperforming major assets such as the S&P 500, Nasdaq, and even Bitcoin stocks. This success reinforces Saylor’s decision to bulk buy Bitcoin despite initial skepticism. Saylor emphasizes, “There’s simply no reason to sell the winner and buy the losers.”
Saylor also believes that ETFs are facilitating the digital transformation of capital. He anticipates significant capital inflows into Bitcoin and other digital assets with the approval of spot ETFs, potentially driving further institutional adoption.
Tags: Bitcoin