YEREVAN (CoinChapter.com) — Michael Saylor, the founder of MicroStrategy, disclosed in an interview that he personally owns $1 billion worth of Bitcoin. This places him among the elite group of Bitcoin “hodlers.”
In an interview on “Bloomberg Open Interest” on August 7, Saylor addressed various topics related to Bitcoin. He emphasized that Bitcoin mining is not environmentally damaging, countering common criticisms.
Significant Personal Bitcoin Holdings
During the interview, Bloomberg Television’s Sonali Basak asked Saylor about his personal Bitcoin investments beyond his company’s holdings.
“Do you have a significant personal stack in addition to what you own through MicroStrategy and through MicroStrategy stock?”
she inquired.
Saylor confirmed.
“Yeah, I do have significant personal Bitcoin holdings,”
he said.
“I think about four years ago, I tweeted that I have 17,732 Bitcoin. I haven’t sold any Bitcoin—I continue to acquire more Bitcoin.”
Only a few individuals, such as Binance Founder Changpeng Zhao, the Winklevoss Twins, and Satoshi Nakamoto, reportedly own more Bitcoin than Saylor.
Bitcoin as a Prime Investment
Saylor defended Bitcoin as a top-tier investment.
“I think it’s a great capital investment asset for an individual, a family, an institution, a corporation, or a country. And I can’t see a better place to put my money,”
he stated.
He highlighted the strength of the Bitcoin network.
“So my view is if you’re going to put away billions of dollars for decades, you’re going to want a very powerful crypto network to defend it and there really is no second best,”
Saylor concluded.
Saylor Highlights Bitcoin’s Strengths for Corporate Finance
Michael Saylor also discussed Bitcoin’s potential benefits for corporate finance. On Wednesday morning, he tweeted, “#Bitcoin will fix your corporate balance sheet.” During the interview, he elaborated on this view, emphasizing Bitcoin’s unique capabilities.
“Bitcoin is special because it is literally the most powerful computer network in the world. It’s got the most electrical power— it’s got the most computer power— it’s got the most economic power— it’s got the most political power,”
Saylor explained.
Instead of apologizing for Bitcoin’s power usage, Saylor highlighted its strength.
“The fact that it runs on 17 gigawatts or more of electricity means it’s got more power than the United States Navy. That makes it nation-state resistant and nuclear-hardened.”
MicroStrategy’s BTC Bet Yields Significant Gains Amid Market Activity
MicroStrategy has heavily invested in Bitcoin, with an average cost per Bitcoin around $37,000. The company recently announced a 10-to-1 stock split. On Wednesday, Bitcoin’s price rose to $57,500 before settling around $57,170.40. This price movement means MicroStrategy stands on a massive unrealized profit.
As of now, Bitcoin’s market cap is $1,128,378,801,254. The 24-hour trading volume is $39,972,822,905, showing a 12% decrease. Bitcoin’s circulating supply is 19,737,115 BTC out of a total supply of 21,000,000 BTC, with 93.99% of the total supply in circulation. The volume-to-market cap ratio stands at 3.54%.
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