Washington, Wednesday, August 14, 2024 – MicroStrategy CEO Michael Saylor said he has now about one billion US Dollars in Bitcoin (17,000 BTC) in his personal savings during an interview with Bloomberg’s Open Interest Segment broadcasted August 7.
Saylor, known for his company’s massive Bitcoin holdings, said he has accumulated a significant personal stash of the digital asset and has no plans to sell.
He claimed Bitcoin is an ideal investment for individuals, families, corporations, and even countries.
The software executive also defended Bitcoin’s energy consumption, saying the network’s massive power usage makes it resistant to attacks. MicroStrategy has bet heavily on Bitcoin, acquiring thousands of coins and facing criticism for its energy use.
In his response to the questions Saylor reiterated his staunch support for Bitcoin.
He said that Bitcoin’s volatility was the key feature that drives its functionality and long-term value.
Saylor compared Bitcoin to a valuable asset like real estate, suggesting that buying it at any time is a sound investment strategy.
The tech entrepreneur said significant personal holdings in Bitcoin, adding to his company’s massive Bitcoin investment.
He defended Bitcoin’s energy consumption, arguing that its robust security is essential for protecting digital assets.
Saylor also dismissed concerns about Bitcoin’s environmental impact, stating it’s a negligible factor compared to other energy-intensive industries.
MicroStrategy has become a leading advocate for Bitcoin, amassing over 200,000 Bitcoins, making it the largest publicly traded holder of the cryptocurrency.
The business intelligence company’s significant investments and Saylor’s outspoken support have solidified its position as a major player in the digital asset space.
