Anika Begay
With Bitcoin (BTC) seeing fresh gains as its price recovers from downtrends, Michael Saylorco-founder and former chief executive officer (CEO) of MicroStrategy, is reaping the benefits. Saylor has been a vocal Bitcoin supporter and investor for years. As the cryptocurrency’s value increases, so does his sizable BTC reserve.
How Much Are Michael Saylor’s BTCs Worth?
Exclusive interview with Bloomberg TV on August 7, Saylor disclosed his significant holdings in Bitcoindeclaring that now owns over $1 billion in BTC. The MicroStrategy co-founder revealed in a post on X (formerly Twitter) in 2020 that he held approximately 17,732 BTC, purchased at an average price of $9,882.
At that time, the price of Bitcoin was trade above the $13,000 mark. Since then, its price has skyrocketed more than fivefold, peaking at over $73,000 during its all-time high as of March 2024. Saylor revealed that he has not sold any BTC, stressing his strong belief in the future potential of cryptocurrency.
The former MicroStrategy CEO also revealed that he has no future plans to liquidate his Bitcoin stash. He emphasized his commitment to both invest further in BTC and expanding his possessions.
During the interview, Saylor stated that BTC was a exceptional capital investment assetbe it an individual, a family, an institutional company or even a country. He said that there was no other asset that rivaled BTX when it came to investing his money, underlining his firm belief in cryptocurrency as the primary choice for long-term wealth preservation and growth.
Excluding Saylor’s sizable Bitcoin stash, MicroStrategy also holds a substantial amount of Bitcoin. The company, founded in 1989 by Saylor owns as many as 226,500 BTC, worth approximately $12.94 billion, based on current exchange rates. MicroStrategy BTC Holdings were purchased at an average price of $35,158 per BTC.
Despite the volatility and instability of Bitcoin prices, Saylor continues to acquire more BTC, comparing the investment to securing prime real estate in the most sought-after location. He said that Bitcoin Volatility It is “a feature and not a bug,” indicating that the cryptocurrency remains a superior asset despite its persistent price fluctuations.
“There’s never a bad time to buy Bitcoin” – Michael Saylor
During his interview, Saylor stated that there is no wrong time to buy bitcoinHis statement suggests that regardless of market conditions, Bitcoin remains a consistently valuable asset.
When asked if he sees The Recent BTC Market Crash as a potential investment opportunity, Saylor partially disclosed its investment strategy.
According to the co-founder of MicroStrategy, determining the best time to buy bitcoin was virtually impossible, given the volatile nature of cryptocurrency and price volatility. As a result, he revealed that MicroStrategy invests in BTC at any appropriate time, regardless of market conditions or price levels.
Featured image created with Dall.E, chart from Tradingview.com
