Crypto News – The plan to sell Microstrategy’s Bitcoin assets was refuted by Michael Saylor, who has gained notoriety for his large Bitcoin purchases. Reiterating his belief that Bitcoin is a better long-term investment than traditional assets, he reaffirmed his dedication to the cryptocurrency.
MicroStrategy Plan to No-Sell BTC: Michael Saylor Won’t Sell Bitcoin Despite $1 Billion Profit
Saylor stated, “I don’t think it’s very wise to sell Bitcoin,” in an interview with host and co-founder of the cryptocurrency-related YouTube channel MMCrypto, Christopher Jaszczynski. Saylor has a long-term plan for MicroStrategy, which is consistent with his unchanging position on not selling Bitcoin.
Saylor is the head of MicroStrategy, a business analytics firm that has steadily raised its Bitcoin holdings. MicroStrategy’s assets have increased to an astounding 158,400 BTC, a noteworthy investment of around $4.7 billion, from the original purchase of 17,732 BTC in the fall of 2020. Saylor claims that the corporation wants to use any measures necessary to acquire and hold Bitcoin.
Our strategy is literally to acquire more Bitcoin. Our strategy is not to trade. Our strategy is not Diversified Investments in a portfolio. Our strategy is very simple: We’re a levered long Bitcoin operating company.Saylor
BTC Should Be Considered a Digital Property, Saylor Says
Saylor revealed that “Bitcoin is outrunning all of the other conventional asset classes,” citing MicroStrategy’s strategy of using long-term leverage on the cryptocurrency. He highlighted the noteworthy profits, noting that as of October 31, 2020, the price of Bitcoin has risen by 192%, surpassing that of stocks, gold, and bonds, since the company began acquiring Bitcoin on August 10, 2020.
Saylor advocated viewing Bitcoin as a “digital property rather than just a digital currency” in response to queries regarding the cryptocurrency’s volatility and function as a medium of exchange. As a better store of value and a hedge against economic instability, he claimed that Bitcoin is ready to displace currency derivatives and inferior assets. Saylor then advised bond and value stock sales in order to capitalize on Bitcoin’s increasing value.