Bitcoin

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Michael Saylor, the outspoken advocate for Bitcoin (BTC) and Chairman of MicroStrategy Incorporated has once again reaffirmed his commitment to the world’s leading cryptocurrency. In a recent interview on Bloomberg TV, Micheal Saylor declared his readiness to continue buying Bitcoin indefinitely, expressing his bullish stance on the digital assets’s prospects. 
<h2 id="strong-michael-saylor-and-the-bitcoin-support-strong">Michael Saylor and the Bitcoin Support</h2> 
Likewise, Saylor highlighted the impact of the <a href="https://coingape.com/breaking-sec-gives-nod-to-spot-bitcoin-etf-opens-door-for-trading/">Michael Saylor is Ready to Keep “Buying Bitcoin Forever”</a> (ETFs), likening it to a rising tide that would elevate the entire cryptocurrency market. Saylor’s unwavering confidence in Bitcoin stems from his belief in its store of value properties and its potential to serve as a hedge against inflation. 
Since MicroStrategy’s initial investment in Bitcoin in 2020, Saylor has been an ardent supporter of the cryptocurrency, advocating for its adoption by institutions and corporations as a treasury reserve asset. His dedication to accumulating Bitcoin has made MicroStrategy one of the largest corporate holders of the digital currency.&nbsp; 
Michael Saylor highlighted that Bitcoin is a strong asset and not a company. In his words,&nbsp; 
“Bitcoin is superior as such, there is no reason to sell the superior to buy the losers.”&nbsp; 
Beyond this bullish stance, Saylor emphasized the significance of spot Bitcoin ETFs which would enable investors to gain exposure to the cryptocurrency without having to directly purchase and own it.&nbsp; 
In addition, he said the approval could catalyze further institutional adoption and drive significant capital inflows into Bitcoin and other digital assets.&nbsp; 
<h2 id="strong-microstrategy-s-bitcoin-stance-strong">MicroStrategy’s Bitcoin Stance</h2> 
In January alone, MicroStrategy got its hands on 850 Bitcoin worth $37.5 million to double down on its acquisition agenda.&nbsp; 
This was also highlighted in the company’s fourth-quarter earnings for 2023, committing to move further into buying more Bitcoin. In addition, the Q4 2023 Earnings presented that MicroStrategy acquired 31,755 bitcoins since the end of Q3&nbsp; for $1,25 billion, or $39,411 per bitcoin. By February 5, the firm had <a href="https://coingape.com/microstrategys-bitcoin-accumulation-hits-190000-btc-amid-q4-revenue-dip/">gathered 190,000 Bitcoins</a> at the cost of $5.93 billion. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 MicroStrategy Executive Chair Michael Saylor says the approval of spot Bitcoin ETFs is “a rising tide that is going to lift all boats” <a href="https://t.co/0X0Pcz9N8S">https://t.co/0X0Pcz9N8S</a> <a href="https://t.co/jA1KxQEDAW">pic.twitter.com/jA1KxQEDAW</a> 
 — Bloomberg TV (@BloombergTV) <a href="https://twitter.com/BloombergTV/status/1759982435691802864?ref_src=twsrc%5Etfw">February 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The company revealed a net income of $89.1 million contrast to its loss of $249.7 million in 2022. With the impressive comeback, the company revenues are at $124.5 million, since the adoption of the Bitcoin strategy, MicroStrategy has outperformed all major asset classes.&nbsp; 
Related to that Michael Saylor said 2024 is the year of birth of Bitcoin as an institutional-grade asset class. He referred to Bitcoin as the first and only asset class of the modern era as Gold is an outdated not a new asset. To properly align with the Bitcoin growth agenda, Michael Saylor has unveiled the pivot of the company as a <a href="https://coingape.com/michael-saylor-makes-important-microstrategy-bitcoin-statement/" target="_blank" rel="noopener">Bitcoin Development Company</a>. 
The post <a href="https://coingape.com/michael-saylor-is-ready-to-keep-buying-bitcoin-forever/">Michael Saylor is Ready to Keep “Buying Bitcoin Forever”</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Michael Saylor is Ready to Keep “Buying Bitcoin Forever”

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