MicroStrategy’s head is ready to hold BTC despite drop in its value

According to Michael Saylor, he is not afraid of the decline in the value of the first cryptocurrency from $69 000 to $ 40 000

20.01.2022 - 12:35

905

1 min

What’s new? MicroStrategy’s head Michael Saylor stated that he has no intention of abandoning his strategy of buying and holding BTC. He said this in a commentary to the Bloomberg agency.

Material on the Bloomberg website

What did Saylor say? According to the businessman, he is not afraid of the drop in the value of the first cryptocurrency from $69 000 to $40 000. He added that “the best defense against inflation is BTC.” Therefore, as a cryptocurrency holder, he is not frightened by skyrocketing consumer prices in the United States.

“I do not really think we could do anything better [...] than to convert our balance sheet into bitcoin,” Saylor pointed out.

How much BTC does MicroStrategy hold? The company is the largest cryptocurrency holder among public companies. It is now known to hold 124 391 BTC worth more than $5,2 billion. MicroStrategy last reported a bitcoin purchase in early December. At that time, it purchased 1400 BTC worth $82,4 million.

Author: