Michael Saylor Reveals His BTC Holdings: Says It’s Never a Bad Time to Buy Bitcoin
In a recent Bloomberg interview, Michael Saylor, co-founder and executive chairman of MicroStrategy, spoke about Bitcoin. Saylor addressed the recent market volatility, energy consumption concerns, and his company’s investment strategy.Ā
Key points:
- MicroStrategy acquired 169 additional Bitcoin for over $11 million in July.
- Saylor personally holds over 17,000 Bitcoin.
- Bitcoin’s volatility is described as a “feature, not a bug”
- Saylor says, “There’s never a bad time to buy Bitcoin.”
Saylor made a statement during the interview on when to invest in Bitcoin. He drew an analogy to prime real estate and stated, “We look at Bitcoin as cyber Manhattan. So there’s never a bad time to buy up scarce, desirable real estate in the greatest city in North America. There’s never a bad time to buy Bitcoin.”
Expanding on this idea, Saylor added, “So we will just generally acquire it, you know, whenever we have cash, whenever we can raise money in the capital markets, whenever we see the opportunity.”
MicroStrategy acquired 169 Bitcoin in July. Saylor showed his commitment to Bitcoin even as prices dipped below $50,000.
Saylor reveals his personal Bitcoin holdings
Saylor also addressed the concern about Bitcoin’s price volatility. He sees the volatility as a feature and not a bug. “Bitcoin volatility is a feature. It’s not a bug,” Saylor emphasized.Ā Ā
Talking about energy consumption, he argued that Bitcoin’s energy use is negligible in the global context, stating, “Bitcoin’s not boiling the ocean. It’s like 10, 15 basis points of the world’s energy usage.”
Also read: Ronin Network Exploited for 4,000 Ethereum and 2M USDC; Hackers Respond
Saylor also disclosed his personal BTC investment. He stated that he holds over 17,000 Bitcoin. Despite the volatility and fluctuating Bitcoin price, MicroStrategy keeps on accumulating Bitcoin as part of its long term investment strategy.
