In a recent announcement on Twitter, Michael Saylor, the founder of MicroStrategy, revealed that the company has once again expanded its Bitcoin holdings. Specifically, MicroStrategy acquired an additional 14,620 BTC, valued at approximately $615.7 million, at an average purchase price of around $42,110 per BTC. This acquisition occurred between November 30th and December 26th, further solidifying MicroStrategy’s position as a major player in the cryptocurrency market.
Michael Saylor’s enthusiasm for Bitcoin is well-documented. In a Bloomberg interview on June 13th, he explained that recent regulatory measures by the U.S. Securities and Exchange Commission (SEC) would ultimately position Bitcoin as the dominant digital asset. Bitcoin remains the only cryptocurrency excluded from the SEC’s list of securities under the leadership of SEC Chairman Gary Gensler.
Saylor emphasized that U.S. regulatory agencies have no affection for stablecoins, altcoins, or crypto-based financial products. Bitcoin, on the other hand, is the sole digital currency exempt from government scrutiny and restrictions, making it a unique and attractive investment in his eyes.
Predicting a remarkable future for Bitcoin, Saylor confidently stated that he expects its price to reach $250,000, representing a tenfold increase from its current value. He believes that cryptocurrency exchanges will play a pivotal role in driving this substantial price appreciation.
Michael Saylor has gained prominence as one of the leading Bitcoin whales and is well-known for his role as the founder and CEO of MicroStrategy. Since 2020, he has continuously invested in Bitcoin, regardless of its market fluctuations, demonstrating unwavering confidence in its long-term potential.
Many experts in the cryptocurrency space share Saylor’s optimism, predicting that Bitcoin may reach $50,000 or more in the early days of 2024. As MicroStrategy continues to accumulate Bitcoin, it remains at the forefront of the institutional adoption of this digital asset, contributing to the ongoing evolution of the cryptocurrency market.