Here's Why Michael Saylor and MicroStrategy Are Buying All the Bitcoin They Can Get Their Hands On
For many equity investors, Michael Saylor may not be a household name. But for crypto investors, Michael Saylor is legendary for his bullish stance on Bitcoin (CRYPTO: BTC), as well as for some of his more outlandish takes on social media about the future of crypto. His company, (NASDAQ: MSTR), is now the largest corporate holder of Bitcoin in the world, and it's not even close. After buying an additional $615 million worth of Bitcoin at the end of 2023, his company now owns close to 1% of all Bitcoin in the world.
Even more remarkably, MicroStrategy only started buying Bitcoin back in 2020, more than a decade after Bitcoin originally launched. But in the past three-plus years, Saylor and his company have consistently added to their Bitcoin position, through a variety of different market conditions. So what's behind this push to buy as much Bitcoin as they possibly can?
As Saylor has reiterated over and over again, Bitcoin is the single best store of value over the long haul -- even better than gold. In fact, Saylor has even opined that the market cap of Bitcoin (now just under $1 trillion) could one day approach the market cap of physical gold, which is estimated to be around $13 trillion.
Source Fool.com
Microstrateg.a New Stock
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