Michael Saylor, MicroStrategy's executive chairman, reiterated the company's commitment to Bitcoin, noting its role as a bridge between traditional finance and the cryptocurrency economy.
With this purchase, the company now owns over 400,000 Bitcoins, purchased at an average price of $58,000 per Bitcoin.
Saylor explained that MicroStrategy’s approach involves leveraging traditional financial instruments like equity issuance and convertible debt to fund Bitcoin purchases. “We are a Bitcoin treasury company,” Saylor said. “Our mission is to securitize Bitcoin and bridge the gap between traditional capital markets and the crypto economy.”
“Bitcoin is the only commodity in human history that has been invented that is strictly capped,” Saylor said. “The fact that it outperforms the S&P 500 and is more volatile makes it an attractive asset for investors looking for high performance.”
Saylor also argued that Bitcoin’s volatility is a feature, not a flaw, allowing traders and investors to take advantage of market fluctuations. Saylor likened volatility to fire, saying, “Henry Ford put fire in an engine and created an industry. Bitcoin’s volatility gives humanity wings in the financial markets.”
He predicted that price volatility would continue, suggesting that Bitcoin could “peak and rise to $180,000” before experiencing significant corrections and falling to $140,000.
*This is not investment advice.
