In addition to MicroStrategy (NASDAQ:MSTR)'s enthusiastic support of Bitcoin (BitfinexUSD) accumulations over the past year, company leader Michael Saylor has also revealed his Bitcoin holdings are falling. about 866 million USD.
Michael Saylor said in a November interview with The Information that in addition to MicroStrategy's goal of hoarding Bitcoin, he is also moving personally. The MicroStrategy CEO is said to own around 17,732 Bitcoins, or nearly $866 million at press time.
According to the report, Michael Saylor has never sold any of his Bitcoins and stated that investors should not sell their Bitcoin holdings. Besides, he also confidently predicts that the price of BTC will be able to reach the threshold of 6 million USD, becoming an asset with a market capitalization of 100 trillion USD in the future.
Saylor has slowly become one of the most important figures related to Bitcoin and cryptocurrency. In August 2020, his business began buying $250,000 worth of Bitcoin, promoting BTC as the company's primary reserve asset.
Then, for most of 2021, MicroStrategy consistently makes several purchases, leveraging equity, debt, and cash flow, while profiting from price drops for the opportunity to add more Bitcoins. to the company's stockpile. MicroStrategy's latest purchase was made a few days ago for $82.4 million in Bitcoin.
The fact is that after more than a year of investing in BTC, both Michael Saylor and MicroStrategy "win big" with huge profits. Recently, during the shareholder meeting on December 17, MicroStrategy announced that the company is looking to make money from the amount of 122,478 Bitcoins it holds, to take advantage of the "vacancy" where this BTC fund is lying, unprofitable. what for the company.
However, Michael Saylor has no plans to venture into profit-generating strategies like Bitcoin-backed credits given the venture's return is around 5% annually, arguing the counterparty risk. is quite large.
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