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Michael Saylor Says There Is No Reason to Sell Bitcoin Anytime Soon

Michael Saylor, the executive chairman and co-founder of MicroStrategy, expressed his steadfast commitment to holding onto his Bitcoin in a recent interview with Bloomberg’s Katie Greifeld. Saylor emphasized that he sees no justification for selling any of his Bitcoin holdings in the near future.

Discussing the potential approval of spot Bitcoin ETFs, Saylor likened it to a rising tide that would benefit all participants in the market. He elaborated on this metaphor, explaining that the advent of spot ETFs is facilitating the digital transformation of capital, with significant sums flowing from the traditional analogue ecosystem into the digital economy on a daily basis.

Saylor conveyed his long-term perspective on Bitcoin by stating, “I’m going to be buying the top forever,” underscoring his belief in the cryptocurrency as an enduring investment. He emphasized that, for him, Bitcoin serves as an exit strategy, signaling his confidence in its role as a store of value.

Pent-up Demand for Bitcoin ETFs

The MicroStrategy chairman has been actively engaging with the media, recently stating in an interview with CNBC that there exists more than a decade of built-up demand for Bitcoin exchange-traded funds (ETFs).

Saylor remarked, “There’s 10 years of pent-up demand people been waiting for these ETFs and finally, mainstream investors are able to access Bitcoin and I think that’s what’s driving the surge of capital in the asset class.”

In addition to discussing the burgeoning interest in Bitcoin ETFs, Saylor touched on various aspects of the crypto industry, including Bitcoin’s increasing valuation and the company’s future plans.

During the interview, Saylor announced MicroStrategy’s intention to rebrand as a Bitcoin development company. He justified this decision by citing the company’s successful Bitcoin strategy and its distinction as the world’s largest publicly traded holder of Bitcoin.

Saylor outlined plans to engage in software development, generate cash flow, and utilize capital markets to acquire more Bitcoin for shareholders while simultaneously fostering the expansion of the Bitcoin network.

Saylor’s BTC Holdings Reach $10B

MicroStrategy’s investment in Bitcoin has surged beyond the $10 billion milestone, with ownership of over 190,000 BTC, coinciding with Bitcoin’s ascent above $50,000. This accomplishment underscores MicroStrategy’s unwavering belief in Bitcoin’s long-term potential and its effectiveness as a hedge against inflation, as highlighted by Arslan Butt from Cryptonews.

Since entering the Bitcoin market in August 2020, MicroStrategy’s BTC portfolio has seen remarkable growth, even in the face of challenges during the bear market in early 2022. Despite a decline in fourth-quarter revenue and profit, MicroStrategy, led by Michael Saylor, persisted in strengthening its Bitcoin holdings, acquiring an additional 850 BTC for $37.2 million in January alone.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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