In a recent interview with Bloomberg TV, MicroStrategy’s Michael Saylor expressed his firm commitment to Bitcoin, declaring it his ultimate ‘exit strategy’ and dismissing any plans to sell the company’s significant BTC holdings.
Bitcoin as the ultimate exit strategy
MicroStrategy holds 190,000 Bitcoins purchased at an average price of $31,224 per coin. Bitcoin is currently trading at around $52,275.60 (at the time of writing), and the company’s holdings are worth around $10 billion, generating a significant profit of $4 billion.
Despite the high returns, Saylor asserts that “Bitcoin is the exit strategy,” emphasizing Bitcoin’s superiority over traditional assets such as gold, real estate, and the S&P index.
Saylor’s Perpetual Bitcoin Buying Position:
city Bloomberg TV interview, Saylor strongly believes in Bitcoin’s potential as a store of value and a hedge against inflation, and has expressed readiness to “buy Bitcoin forever.”
MicroStrategy began its Bitcoin accumulation journey in August 2020 and has been steadily increasing its portfolio. MicroStrategy’s recent purchase of 850 BTC for $37.5 million demonstrates Saylor’s commitment, with a cost basis of $31,464.74 and unrealized profits of $3.55 billion.
In a bold move, the company rebranded itself as a “Bitcoin Development Company” in its fourth quarter (Q4 2023) earnings report to emphasize its commitment to Bitcoin. MicroStrategy shares have surged 11.8% year to date, reflecting investor confidence in Saylor’s strategic approach.
“We will develop software, generate cash flow, and leverage capital markets to accumulate more Bitcoin,” he said.
In the meantime…
The company’s stock price has soared 466% since August 2020, outperforming major assets such as the S&P 500, Nasdaq, and even Bitcoin stock. The success once again demonstrates Saylor’s willingness to buy Bitcoin in large quantities despite initial skepticism. “There is no reason to sell winners and buy losers,” Saylor emphasizes.
Saylor argues that “ETFs are fueling the digital transformation of capital.” He expects the approval of spot ETFs will bring significant capital inflows into Bitcoin and other digital assets, potentially driving institutional adoption.