Michael Saylor Not Interested in Selling: ‘Bitcoin Is the Exit Strategy’

Michael
Saylor
doesn’t
plan
to
sell
any
of
MicroStrategy’
(MSTR)s
bitcoin

(BTC)
anytime
soon,
or
potentially
ever,
he
said
in
an
interview
with
Bloomberg
TV
on
Tuesday.

“The
spot
ETFs
have
opened
up
a
gateway
for
institutional
capital
to
flow
into
the
bitcoin
ecosystem,”
said
Saylor.
“[The
ETFs]
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.”

Saylor’s
MicroStrategy
held
190,000
bitcoins
at
the
end
of
January
which
it
bought
for
an
average
of
$31,224
per
coin.
With
bitcoin
now
trading
at
roughly
$52,000,
the
company’s
holdings
are
worth
about
$10
billion,
with
$4
billion
of
that
profit.

Many
investors
might
be
considering
an
exit
at
this
point,
but
not
Saylor.

“Bitcoin,”
he
told
Bloomberg,
“is
the
exit
strategy.”.

Bitcoin’s
value,
currently
just
over
a
trillion
dollars,
is
competing
with
asset
classes
such
as
gold,
real
estate
or
even
the
S&P
index
–
all
of
which
have
market
capitalizations
many
multiples
higher
than
bitcoin,
said
Saylor.
And
bitcoin,
argued
Saylor,
is
superior
to
all
of
them.

“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,”
he
said.

MicroStrategy
first
started
purchasing
bitcoin
in
August
2020
and
has
since
consistently
added
to
its
portfolio.
The
software
firm

alongside
its
fourth
quarter
earnings
report
rebranded
itself
a
“bitcoin
development
company,”
doubling
down
on
its
commitment
to
the
cryptocurrency.

MSTR
shares
are
up
11.8%
year-to-date.