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HomeCrypto NewsMarketAs Market Tumbles, Michael Saylor Says MicroStrategy Will Not Stop Buying Bitcoin

As Market Tumbles, Michael Saylor Says MicroStrategy Will Not Stop Buying Bitcoin


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Michael Saylor Says MicroStrategy doesn’t intend to stop buying Bitcoin.

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Michael Saylor, the CEO and co-founder of leading business intelligence and software company MicroStrategy has dismissed speculation that the company embarks on its Bitcoin (BTC) accumulation spree only when the asset class price is down. 

The popular Bitcoin proponent, who has led the company on multiple Bitcoin purchases, disclosed recently that while MicroStrategy is not looking at the perfect time to add to its BTC purchases, the company will not stop buying Bitcoin. 

I’m not trying to time the market, and I don’t intend to stop buying Bitcoin. Forever, Laura.  Forever!” Saylor said at the recently concluded Bitcoin 2022 conference held in Miami. 

MicroStrategy Bitcoin Accumulation Spree

Recall that MicroStrategy is among the pioneers of corporate investors that have embarked on a Bitcoin purchase spree. 

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The publicly-traded company has amassed over 100,000 BTC since it declared interest in the world’s largest cryptocurrency, with many thinking it would take a break from adding BTC to its stash. 

While many thought the company would stop buying Bitcoin, MicroStrategy added another 4,167 Bitcoin earlier this month, further increasing its holdings in the top asset class.  

Since declaring interest in Bitcoin, MicroStrategy has purchased 129,218 BTC worth around $5.28 billion at the time of writing. 

Despite making huge gains investing in Bitcoin, MicroStrategy has reiterated that it will not sell a single satoshi as Saylor considers cryptocurrency the future currency. 

Saylor Advocates for Bitcoin

Aside from Saylor pioneering MicroStrategy’s Bitcoin purchases, the company’s co-founder has advocated for Bitcoin adoption at every opportunity he gets. 

For Saylor, Bitcoin is not only a store of value but a technically, politically, and economically sound form of money, which has attracted the attention of many people globally, as seen in its widespread adoption. 

Despite the many opportunities associated with BTC, Saylor added that Bitcoin would reimburse people robbed by inflation

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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