• Michael Saylor’s MicroStrategy has now held nearly 153,000 BTC three years after making its first historical bitcoin purchase.
• Michael Saylor remains bullish on bitcoin and believes its value could exceed $1 million per coin.
• MicroStrategy initially hinted in July 2020 about investing in assets such as bitcoin or gold rather than holding cash, before deciding to buy BTC worth $250 million and adopting it as its primary treasury reserve asset.
Michael Saylor’s Bitcoin Investment Three Years Later
Michael Saylor’s publicly-traded business intelligence company, MicroStrategy, made history three years ago when it decided to make its first Bitcoin (BTC) purchase. Since then, the firm has held nearly 153,000 BTC.
Saylor’s Bullish Outlook for Bitcoin
MicroStrategy’s co-founder and executive chairman Michael Saylor remains bullish on Bitcoin despite the cryptocurrency’s volatile price movements. He believes that the digital asset’s value will exceed $1 million per coin.
MicroStrategy’s Initial Plans to Invest in Assets
In July 2020, MicroStrategy hinted at plans to invest in assets such as Bitcoin or gold instead of holding cash as a way to escape inflation. The company later decided to buy BTC worth $250 million and adopted it as its primary treasury reserve asset.
More Investments Over Time
Since then, the company has continued to make additional investments in bitcoin over time. In June 2023, Saylor announced that they had bought 12,333 BTC for approximately $502 million.
Three years since making its first historical bitcoin purchase, Michael Saylor’s MicroStrategy still holds a large stash of BTC and remains bullish about the digital asset’s long-term potential.