Bitcoin Price Prediction as Michael Saylor’s BTC Holdings Reach $10 Billion – Will He Sell?
MicroStrategy’s Bitcoin investment has soared beyond the $10 billion mark, owning over 190,000 BTC as Bitcoin’s value climbs past $50,000. This achievement underscores MicroStrategy’s confidence in Bitcoin’s long-term prospects and its utility as an inflation hedge.
Since joining the Bitcoin market in August 2020, MicroStrategy’s BTC portfolio has expanded significantly, even amidst the bear market’s challenges in early 2022.
Despite experiencing a downturn in its fourth-quarter revenue and profit, MicroStrategy, under Michael Saylor’s leadership, continued to bolster its Bitcoin holdings, purchasing an additional 850 BTC for $37.2 million in January alone.
MICROSTRATEGY'S BITCOIN HOLDINGS SURPASS $10 BILLION
As Bitcoin’s price nears $53,000, Michael Saylor-led MicroStrategy’s position of 190,000 BTC is valued at over $10B with unrealized profits of $4B.
Michael Saylor recently announced the firm’s acquisition of an additional 850… pic.twitter.com/FhB1twtdA6
— Crypto Town Hall (@Crypto_TownHall) February 16, 2024
This move came even as MicroStrategy’s stock (MSTR) saw a 16% drop following the introduction of Bitcoin ETFs. Saylor, demonstrating his commitment to Bitcoin, expressed willingness to sell his MSTR shares to acquire more BTC.
MicroStrategy’s pivot from government securities and bonds to Bitcoin was motivated by the cryptocurrency’s superior return potential.
Saylor has been a vocal advocate for Bitcoin’s ability to maintain purchasing power amidst inflation.
Notably, MicroStrategy’s Bitcoin stash surpasses the holdings of all nine recently launched Bitcoin ETFs, accounting for nearly 1% of the total BTC in circulation, illustrating the company’s significant stake in the cryptocurrency landscape.
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