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Michael Saylor Reaffirmed After BTC Drop From $69K to $40K That Neither He Nor His Company Will Sell A Single Satoshi

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Michael Saylor, again affirmed that neither he nor his company is going to sell their bitcoin holdings.



Michael Saylor, CEO of MicroStrategy, in a conversation with Bloomberg, reaffirmed his commitment to hold bitcoin, despite a 40% decline in Bitcoin price from ATH.

“Never. No. We are not sellers,” said the top manager.

Saylor said he was comfortable and not nervous about the Bitcoin price drop from $69,000 to $40,000. He stayed sold on the point that Bitcoin is the best defense against rising inflation.

“The best defense against inflation is a Bitcoin standard. So I don’t really think we could do anything better to position our company in an inflationary environment than to convert our balance sheet to Bitcoin.”

Saylor is also committed to buying more bitcoins as the company generates cash, He also hopes that more Wall Streets businesses will join BTC at current prices.

“I feel like it’s consolidating at this level, This is a great entry point for institutional investors.”

MicroStrategy holds 124,391 BTC worth over $5.2 billion at current exchange rates. The company spent a total of $3.75 billion on its purchase with an average price is $30,159/BTC.

Earlier Michael Saylor, head of MicroStrategy, on the company’s investor day call said that his company is looking to generate yields on their bitcoin holdings. He also Predicted “Bitcoin Will Surpass Gold, Will Emerge Into A $100T Asset Class And 100x Of Where It Is Right Now”

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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