Bitcoin

Read

Spot

MicroStrategy CEO Michael Saylor has no plans to sell any Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) on the company’s balance sheet. 
In an interview with Bloomberg TV, Saylor noted that Spot ETFs had opened the gates for institutional capital to flow into the BTC ecosystem and that this type of fund contributes to the digital transformation of capital. 
<blockquote class="wp-block-quote"> 
 “Every day, hundreds of millions of dollars of capital is flowing from the traditional analog ecosystem into the digital economy.” <cite>Michael Saylor, MicroStrategy CEO</cite>
</blockquote> 
Bitcoin’s value, currently just over a trillion dollars, rivals asset classes such as gold, real estate, or even the <a href="https://crypto.news/microstrategys-bitcoin-success-sparks-speculation-on-potential-sp-500-entry/" target="_blank" rel="noreferrer noopener">S&amp;P index</a> – all of which have market capitalizations many times larger than Bitcoin, Saylor said. 
BTC, Saylor argues, beats them all. 
<blockquote class="wp-block-quote"> 
 “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.” <cite>Michael Saylor, MicroStrategy CEO</cite>
</blockquote> 
<a href="https://crypto.news/tag/MicroStrategy/" target="_blank" rel="noreferrer noopener">MicroStrategy</a> began buying Bitcoin in August 2020 and has steadily added to its portfolio. Last month, the company purchased 850 BTC for $37.2 million. After this purchase, MicroStrategy’s reserve in Bitcoin <a href="https://crypto.news/microstrategy-added-850-btc-to-its-balance-sheet-increased-holdings-to-190000-btc/" target="_blank" rel="noreferrer noopener">reached</a> 190,000 BTC. At the time of writing, BTC is trading at $51,800, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a> data. The company’s assets at the current exchange rate are estimated at approximately $9.8 billion. 
 Read more: <a href="https://crypto.news/michael-saylor-starts-selling-216m-in-microstrategy-shares-to-purchase-more-btc/"> Michael Saylor starts selling $216m in MicroStrategy shares to purchase more BTC </a>

MicroStrategy CEO Michael Saylor abandons plans to sell Bitcoin

crypto.news

Altri articoli pubblicati su 21 feb 2024

Why Is The Crypto Market Down Today?

IoTeX Price Beats Forecast for 2024, Algotech Stuns Market With $1.1 Million Raise

Bitcasino Player Lucks Out with Double Win of $4.5 Million On Exclusive Slots Game

First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days

GAIMIN announces the world’s first L2 gaming blockchain on BNB Chain.

Emirates NBD joins Dubai FinTech Summit as the Premium Banking Partner

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!