March 27, 2024
Bitcoin News

MicroStrategy’s Michael Saylor Bullish on Bitcoin: No Plans to Sell Amid ETF Surge

In a recent interview with Bloomberg’s Katie Greifeld, MicroStrategy’s executive chairman and co-founder, Michael Saylor, expressed his unwavering confidence in Bitcoin, stating that there is no reason for him to sell any of his Bitcoin holdings in the near future. Saylor emphasized the positive impact of the approval of spot Bitcoin ETFs, describing it as a “rising tide” that will lift all boats in the market.

“This is a rising tide, it’s gonna lift all boats,” Saylor commented, metaphorically referring to the broader benefits that the market will experience with the approval of spot Bitcoin ETFs. He highlighted the transformative role of these ETFs in facilitating the flow of capital from the traditional analogue ecosystem into the digital economy.

Saylor, a prominent advocate for Bitcoin, declared, “I’m going to be buying the top forever,” affirming his long-term commitment to the leading cryptocurrency. He views Bitcoin as an exit strategy, underscoring its potential to safeguard investments in the face of economic uncertainties.

In a separate interview with CNBC, Saylor discussed the pent-up demand for Bitcoin ETFs, estimating over a decade of waiting among investors. He attributed the surge of capital in the asset class to mainstream investors finally gaining access to Bitcoin through ETFs.

MicroStrategy, under Saylor’s leadership, has been actively expanding its Bitcoin portfolio, reaching a remarkable $10 billion valuation. The company, now positioning itself as a Bitcoin development company, plans to leverage the capital markets to accumulate more Bitcoin, further supporting the growth of the Bitcoin network.

Despite challenges in the bear market earlier this year, MicroStrategy continued its bullish approach, adding 850 BTC to its holdings in January alone, with a total of over 190,000 BTC. This significant investment reflects MicroStrategy’s confidence in Bitcoin’s long-term prospects and its role as a reliable hedge against inflation.

As Bitcoin’s value surpasses $50,000, Saylor remains a steadfast advocate, positioning MicroStrategy at the forefront of the cryptocurrency market.

Image by Tamim Tarin from Pixabay

Related posts

eToro CEO: Bitcoin ETFs and User Experience Key to Adoption

Robert Paul

Genesis Allowed to Sell $1.6 Billion Grayscale Bitcoin Trust Shares

Anna Garcia

EIA Asked to Halt Bitcoin Miner Survey Amid Energy Scrutiny Lawsuit

Cheryl  Lee

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More