Michael Saylor: “No Reason to Sell” Bitcoin

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  • Michael Saylor has asserted that there is “no reason to sell” any of Microstrategy’s 190,000 bitcoin, considering them superior to other assets
  • Concerns exist about the market impact if Saylor were to sell, but he views Microstrategy’s bitcoin as the “exit strategy”
  • Microstrategy’s bitcoin haul is currently worth around $10 billion

Bitcoin mega-whale Michael Saylor has said that there is “no reason to sell” any of the coins held by his company Microstrategy as he would only be doing so for an inferior asset. Microstrategy currently holds 190,000 bitcoin, and there are concerns within the community about what would happen to the market if Saylor began to take profits. However, Saylor isn’t minded to shed any Microstrategy bitcoin any time soon, calling it the “exit strategy” compared to other assets and fiat currency.

Microstrategy May Never Sell

Saylor made the comments to Bloomberg TV, where he emphasized MicroStrategy’s long-term commitment to holding its bitcoin reserves, suggesting that the company may never divest from its holdings.

Saylor highlighted the pivotal role of spot Bitcoin ETFs in facilitating institutional capital inflows into the Bitcoin ecosystem, stating, “The spot ETFs have opened up a gateway for institutional capital to flow into the Bitcoin ecosystem.” He underscored the transformative impact of these ETFs on capital, with significant amounts transitioning from traditional analog assets to the digital economy daily.

Saylor compared Bitcoin’s market capitalization, now exceeding a trillion dollars, with other traditional asset classes such as gold, real estate, and the S&P index, all of which have market capitalizations many times higher, arguing that Bitcoin’s technical superiority positions it as a superior investment option compared to these traditional assets, suggesting that capital will continue to flow into Bitcoin from other asset classes.

$4 Billion Profit

Microstrategy’s bitcoin holdings, which stood at 190,000 at the end of January, were acquired at an average cost of $31,220 per coin. With Bitcoin’s current trading price hovering around $52,000, the company’s holdings are estimated to be worth approximately $10 billion, representing a profit of about $4 billion.

Despite the considerable gains, Saylor reiterated his commitment to holding onto the cryptocurrency for the long term, stating emphatically that “Bitcoin is the exit strategy.”