"Bitcoin is definitely heading towards $1 million!" Michael Saylor tells shareholders: Plans to aggressively purchase more Bitcoin
MicroStrategy founder and CEO Michael Saylor announced to the company's shareholders that he intends to "aggressively pursue" its treasury reserve strategy by acquiring and holding more Bitcoin.
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MicroStrategy's founder and CEO Michael Saylor announced to the company's shareholders that he plans to "aggressively pursue" its treasury reserve strategy by acquiring and holding more Bitcoin.
Michael Saylor informed shareholders that MicroStrategy's Bitcoin holdings are strong, stating, "Our parallel strategy of acquiring and holding Bitcoin has been tremendously successful." However, holding Bitcoin made it difficult for company executives to obtain liability insurance, so Michael Saylor personally provided insurance.
During an interview with AI scientist Lex Fridman, who has millions of subscribers, Michael Saylor stated, "Bitcoin will definitely reach $1 million, and I think it could go even higher, and the price will keep going up." The two discussed Bitcoin, inflation, and the future of currency for four hours. Michael Saylor believes that policymakers are underestimating the pain caused by CPI to workers and companies amid the current inflation issues.
MicroStrategy is currently the world's largest single wallet holder of Bitcoin, with 129,218 Bitcoins. These Bitcoins are currently worth around $5.1 billion. Following closely is Tesla, which holds 43,200 Bitcoins valued at approximately $1.7 billion.
Michael Saylor owns 68.1% of MicroStrategy's shares, making him the largest shareholder, and therefore able to make decisions without hindrance. This is why he can continuously buy Bitcoin without obstacles, unlike other companies with such investment strategies.
In an almost frantic move on March 29th, Michael Saylor stated that he would use a $205 million Bitcoin-backed loan from Silvergate Bank to purchase more Bitcoin. In a statement, he mentioned that this loan represents the first time his company has used its BTC holdings as "productive collateral."