Throughout various market conditions, Michael Saylor has consistently advocated for Bitcoin (BTC) and remained a strong supporter. Recently, as BTC crossed the significant milestone of $100,000, Saylor offered his perspectives on this achievement.
Saylor’s Views on Bitcoin Reaching $100,000
During a discussion with Alex Thorn, the Head of Firmwide Research at Galaxy, Saylor expressed his thoughts,
“Reaching the six-figure mark is important as it signifies the enduring presence and stability of Bitcoin.”
Saylor elaborated on the evolution of Bitcoin, highlighting how it has progressed through distinct phases. Initially, questions surrounding BTC’s legitimacy and feasibility were widespread. Subsequently, the Blocksize Wars complicated matters further as different groups clashed over its purpose.
Between 2020 and 2024, emphasis shifted towards Bitcoin gaining acceptance from institutions, governments, and conventional financial markets amid prevailing skepticism.
Remarkably, from the 5th of November onwards, BTC experienced significant growth, soaring from $67,000 to over $100,000, cementing its status as a major player in the financial landscape.
In an interview with CNBC, Saylor pointed out the influence of the 2024 U.S. presidential election on Bitcoin’s future.
He articulated,
“The 2024 election stands as a pivotal event in Bitcoin’s recent history.”
Saylor emphasized the pivotal role of the political climate in shaping Bitcoin’s trajectory.
Microstrategy’s Ongoing Commitment to Bitcoin
Further underlining his support for Bitcoin, Saylor’s company, MicroStrategy, recently made a substantial move in the capital markets that demonstrates its unwavering commitment to Bitcoin.
MicroStrategy initiated a $21 billion equity shelf registration and a $21 billion fixed-income plan, setting a new record in the financial domain as the largest offering of its kind.
MicroStrategy made headlines by acquiring an additional 21,550 Bitcoins, increasing its total BTC holdings to 423,650 with a value of $25.6 billion.
This strategic move affirms MicroStrategy’s view of Bitcoin as a fundamental asset and positions the company as a trailblazer in adopting digital currency for long-term value.
Saylor’s Insights on Bitcoin’s Future Growth
In a separate interview with Dave Portnoy, the founder of Barstool Sports, Saylor addressed concerns surrounding Bitcoin’s escalating price.
Despite BTC breaching the $100,000 mark, Saylor dismissed notions of it becoming excessively expensive and reiterated his dedication to long-term investments despite short-term market fluctuations.
Saylor emphasized,
“I will continue to purchase.”
He further mentioned,
“Even if it reaches $1 million per coin, I will maintain my buying strategy, potentially at the rate of $1 billion daily at that price point, as that’s my approach.”
Currently, Bitcoin is trading at $100,378.15, showing a minor 0.02% increase in the last 24 hours according to CoinMarketCap. Conversely, MicroStrategy’s MSTR stock experienced a 4.67% decline, closing at $392.19 on Google Finance.