"In the past when BTC was cheap, we must have become millionaires, right?"
Michael Saylor who is the Chief Executive Officer (CEO) of MicroStrategy has absolutely no plans to sell any of his holdings in the largest cryptocurrency Bitcoin (BTC) in the near future.
This is because spot ETFs have attracted a lot of inflows by institutions into the BTC ecosystem, commented Saylor, adding that ETFs have facilitated digital transformation, causing hundreds of millions of dollars to flow daily from the traditional ecosystem to the digital economy.
MicroStrategy held 190,000 BTC at the end of January 2024 bought when the price was at $31,224, so here it can be seen that the firm's holdings are worth $10 billion and its profit has already reached $4 billion.
There is no denying that many investors may consider selling their holdings in BTC, but not Saylor as he said that BTC is actually an exit strategy.
Although BTC is worth just over a trillion US dollars compared to gold, real estate or the S&P index, all of which have multiple market capitalizations, Saylor insists BTC is much higher than that.
Saylor also strongly believes that capital will continue to flow from that asset class into BTC as BTC is technically stronger than others, so there is no reason to sell winners and buy losers.
Pleased to note that MicroStrategy which started buying BTC in August 2020 has been consistently adding to its portfolio and should note its fourth quarter earnings have rebranded themselves as a BTC development firm.
