#Saylor Says
$BTC To Double S&P Gains Over Next 8 Years
Michael Saylor told CNBC on Tuesday that
$BTC will outperform the S&P 500 by two to three times over the next four to eight years. The #Strategy Executive Chairman’s projection came despite recent volatility that has pressured both the cryptocurrency and his company's stock price.
Bitcoin currently changes hands below $70,000 after retreating from October's record above $126,000. Strategy shares fell to approximately $103 before bouncing back to roughly $138 this week, while
$BTC dropped 9% in the past seven days.
Strategy purchased an additional 1,142
$BTC for about $90 million on Monday, company filings show. The acquisition brings the firm's total position to 714,644 #tokens, representing over 3.4% of #Bitcoin's capped supply.
The company's holdings now trade below its average purchase price following the market decline. Saylor dismissed #liquidation concerns during his CNBC appearance, stating that Strategy plans to buy Bitcoin every quarter indefinitely without selling any tokens.
CEO Phong Le recently outlined the company's risk threshold to investors. The balance sheet would only face meaningful stress if
$BTC collapsed to around $8,000 and stayed there for five to six years, Le said, describing an extreme scenario.
