Michael Saylor has consistently shown strong support for Bitcoin [BTC], even during periods of bearish trends. Recently, when BTC reached the $100K mark, Saylor shared his perspectives on the matter.
Saylor’s Views on Bitcoin’s Stabilization at $100K
During a discussion with Alex Thorn, the Head of Firmwide Research at Galaxy, Saylor expressed,
“I see this as a significant milestone because hitting the six-figure mark conveys the message that Bitcoin is here to stay.”
Elaborating on his beliefs, Saylor noted the evolution of Bitcoin through various stages. Initially, Bitcoin faced uncertainties regarding its identity and feasibility.
This uncertainty was further amplified during the Blocksize Wars when different factions contested over Bitcoin’s true purpose.
From 2020 to 2024, attention shifted towards Bitcoin’s acceptance by institutions, governments, and conventional markets, amidst prevailing doubts.
However, since the 5th of November, BTC has made an impressive surge from $67k to over $100k, establishing itself as a potent force in the financial realm.
During an interview with CNBC, Saylor highlighted the significance of the 2024 U.S. presidential election on Bitcoin’s future.
He remarked,
“The 2024 election stands out as the most impactful event in the past four years for Bitcoin.”
He emphasized the role of the political landscape in shaping Bitcoin’s trajectory.
Microstrategy’s Firm Commitment to Bitcoin
Furthermore, Saylor’s company, MicroStrategy, reaffirmed its dedication to Bitcoin by making significant strides in capital markets.
MicroStrategy initiated a $21 billion equity shelf registration and a $21 billion fixed-income plan, setting a new record for the largest offering of its kind in the financial sector.
MicroStrategy recently made headlines by acquiring an additional 21,550 Bitcoins, elevating its total holdings to 423,650 BTC, valued at $25.6 billion.
This strategic move underscores the company’s unwavering commitment to Bitcoin as a fundamental asset, positioning MicroStrategy as a frontrunner in embracing digital currency for long-term gains.
Saylor’s Perspective on Bitcoin’s Long-Term Prospects
In a separate conversation with Dave Portnoy, the founder of Barstool Sports, Saylor addressed concerns regarding Bitcoin’s escalating price.
Despite BTC surpassing $100,000, Saylor dismissed notions of it being overly pricey, emphasizing his steadfast focus on long-term investment despite short-term market fluctuations.
Saylor emphasized,
“I will continue to make purchases.”
He added,
“Even if the price hits a million dollars per coin, I will still be buying, perhaps at a billion dollars’ worth per day at that level, because that’s my strategy.”
Meanwhile, Bitcoin maintained its upward momentum, trading at $100,378.15 at the time of writing, with a marginal 0.02% increase over the previous 24 hours according to CoinMarketCap.
On the other hand, MicroStrategy’s MSTR stock witnessed a decline of 4.67%, closing at $392.19 as reported by Google Finance.