- MicroStrategy (MSTR) reported a total of 190,000 Bitcoin (BTC) in its coffers.
- As of the recent surge, their Bitcoin holdings are now worth around $10 billion.
- MicroStrategy Executive Chairman Michael Saylor reiterated they’re not selling in a recent interview.
MicroStrategy’s executive chairman and co-founder, Michael Saylor, recently sat down for an interview with Bloomberg TV. Being one of the poster boys of the Bitcoin revolution, the topic naturally centered on the digital asset and what his company is planning to do with their massive haul.
Early this month, Saylor revealed that MicroStrategy scooped up an additional 850 BTC to its digital vault for $37.2 million. This brings up their total holdings to 190,000 BTC, which was acquired for a total price of $5.93 billion or $31,224 per coin.
At the current top of $52,900 price per BTC, this translates to $10.051 billion. That’s nearly double their investment already. So, one thing that the crypto community and the mass media are very interested in at the moment is when will they cash out their profits.
Saylor, however, reaffirmed his previous stance that there are no plans to sell MicroStrategy’s Bitcoin supply anytime soon, or even anytime in the long run. This is especially true now that there’s a growing institutional demand created by spot ETFs based on the digital asset.
“The spot ETFs have opened up a gateway for institutional capital to flow into the Bitcoin ecosystem,” Saylor told Bloomberg. “If you look at what these spot ETFs are doing, they are facilitating the digital transformation of capital, and every day hundreds of millions of dollars of capital is flowing from the traditional analog ecosystem into the digital economy.”
For Saylor, “Bitcoin is the exit strategy” and it is presently the “strongest asset” out there. Its resurgence to the trillion-dollar market cap now positions itself among other powerhouses in the tech sector like Microsoft, Apple, and Google (Alphabet).
What makes Bitcoin different from the Magnificent Seven Stocks though is it’s an asset class and not a company. Likewise, he emphasized that there’s not enough room in the capital structure of the mentioned companies to hold $10 trillion up to $100 trillion worth of capital.
“We believe capital is going to keep flowing from those asset classes into Bitcoin because Bitcoin is technically superior to those asset classes and that being the case, there’s just no reason to sell the winner and to buy the losers,” the investor and business executive explained.