Michael Saylor Not Interested in Selling: ‘Bitcoin Is the Exit Strategy'
Summary
MicroStrategy CEO Michael Saylor has no plans to sell the company's bitcoin holdings, which were valued at $10 billion as of the end of January. The company bought 190,000 bitcoins at an average price of $31,224 per coin. Saylor believes that the launch of spot ETFs has facilitated the flow of institutional capital into the bitcoin ecosystem, transforming traditional capital into digital. He views bitcoin as superior to other asset classes like gold, real estate, or the S&P index, and expects capital to continue flowing from these assets into bitcoin. MicroStrategy, which began buying bitcoin in August 2020, recently rebranded itself as a "bitcoin development company". Its shares have risen 11.8% year-to-date.
