MicroStrategy, a business intelligence company, remains bullish on bitcoin three years after it made its first purchase of the cryptocurrency. The co-founder and executive chairman of MicroStrategy, Michael Saylor, has also made bold predictions for bitcoin’s price, believing it could exceed $1 million per coin.
In August 2020, MicroStrategy became the first publicly-traded company to purchase bitcoin, buying $250 million worth of the cryptocurrency. The decision was made as a hedge against inflation and to generate higher returns on Investment compared to other assets. Since then, the company has continued to invest in bitcoin, with its holdings now totaling 152,800 BTC.
However, in a surprising move, MicroStrategy sold 704 BTC in a December 2022 SEC filing to generate tax benefits. This action contradicted a previous statement by Saylor, who had stated that the company would never sell any of its bitcoin holdings.
Despite this, Saylor continues to solidify his support for bitcoin. He has referred to bitcoin as “digital gold” and has made big price predictions for the cryptocurrency. In May 2022, Saylor stated that bitcoin’s price could “go into the millions” and that it is the future of money. He later predicted that bitcoin’s price will skyrocket to $1 million and could be valued at $500,000 in the next 10 years if it matches the Market capitalization of gold.
Saylor also remains unfazed by the ongoing enforcement crackdown on the crypto sector by the US SEC. He believes that the regulator’s actions could actually benefit bitcoin by increasing its price and market share dominance.
In August 2022, Saylor stepped down as MicroStrategy’s CEO after serving in that role for over 30 years. He took on the position of executive officer and stated that this new role would allow him to focus more on the company’s bitcoin acquisition strategy and related advocacy initiatives.
Overall, MicroStrategy’s continued bullishness on bitcoin, along with Saylor’s unwavering support for the cryptocurrency, highlights their confidence in its future potential as a valuable asset..
#Michael #Saylor #MicroStrategy #Bitcoin #Years
In August 2020, MicroStrategy became the first publicly-traded company to purchase bitcoin, buying $250 million worth of the cryptocurrency. The decision was made as a hedge against inflation and to generate higher returns on Investment compared to other assets. Since then, the company has continued to invest in bitcoin, with its holdings now totaling 152,800 BTC.
However, in a surprising move, MicroStrategy sold 704 BTC in a December 2022 SEC filing to generate tax benefits. This action contradicted a previous statement by Saylor, who had stated that the company would never sell any of its bitcoin holdings.
Despite this, Saylor continues to solidify his support for bitcoin. He has referred to bitcoin as “digital gold” and has made big price predictions for the cryptocurrency. In May 2022, Saylor stated that bitcoin’s price could “go into the millions” and that it is the future of money. He later predicted that bitcoin’s price will skyrocket to $1 million and could be valued at $500,000 in the next 10 years if it matches the Market capitalization of gold.
Saylor also remains unfazed by the ongoing enforcement crackdown on the crypto sector by the US SEC. He believes that the regulator’s actions could actually benefit bitcoin by increasing its price and market share dominance.
In August 2022, Saylor stepped down as MicroStrategy’s CEO after serving in that role for over 30 years. He took on the position of executive officer and stated that this new role would allow him to focus more on the company’s bitcoin acquisition strategy and related advocacy initiatives.
Overall, MicroStrategy’s continued bullishness on bitcoin, along with Saylor’s unwavering support for the cryptocurrency, highlights their confidence in its future potential as a valuable asset..
#Michael #Saylor #MicroStrategy #Bitcoin #Years
