- August 7, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
MicroStrategy executive chair Michael Saylor disclosed in an interview on Aug. 7 that his personal Bitcoin holdings are worth over $1 billion, placing him among the elite group of BTC “whale hodlers.”
During the Aug. 7 interview on “Bloomberg Open Interest,” Saylor addressed concerns about Bitcoin mining’s environmental impact while passionately defending the digital asset’s role in the future of finance.
Personal stash
In conversation with Bloomberg Television’s Sonali Basak, Saylor confirmed his substantial personal investment in Bitcoin. When asked about his Bitcoin holdings beyond those of MicroStrategy, he said:
“I do have significant personal Bitcoin holdings. About four years ago, I tweeted that I have 17,732 Bitcoin. I haven’t sold any Bitcoin — I continue to acquire more Bitcoin.”
This positions Saylor alongside prominent Bitcoin holders such as Binance Founder Changpeng Zhou and the Winklevoss Twins.
The MicroStrategy founder did not reveal the total amount of Bitcoin he holds as of 2024 and how much he has purchased in the last four years. However, based on his 2020 tweet, his initial stash is now worth roughly $996 million as of press time.
Saylor also reiterated his view that Bitcoin is an “apex asset.” He said:
“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.”
Bitcoin in corporate finance
Saylor, a fervent advocate for Bitcoin, believes in its potential to transform corporate finance. He has stated multiple times that Bitcoin can help “fix [a company’s] balance sheet” in recent months. During the Bloomberg interview, he elaborated on Bitcoin’s unique attributes:
“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 dismissed concerns over Bitcoin’s energy consumption, highlighting its robustness:
“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 has been a notable institutional investor in Bitcoin. The company’s average cost per Bitcoin is approximately $37,000, and the firm plans to continue buying more.
Saylor recently revealed that shareholders believe buying more BTC per share is the best value for them. The firm most recently announced plans for a 10-to-1 stock split.
MicroStrategy’s bold Bitcoin strategy continues to generate significant attention and debate in the financial world. His personal and corporate commitments to Bitcoin highlight his strong belief in the flagship crypto’s long-term value and resilience.
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