'If it's not going to zero, it's going to a million': Michael Saylor's Strategy buys another 592 bitcoin for $40M - The Block

Michael Saylor, the co-founder and executive chairman of MicroStrategy, has once again demonstrated his bullish outlook on Bitcoin by purchasing an additional 592 BTC for approximately $40 million. This latest acquisition aligns with Saylor's long-term strategy of accumulating Bitcoin, which he views as a superior store of value compared to traditional fiat currencies.

MicroStrategy, a business intelligence firm, has been a significant player in the cryptocurrency space since it began acquiring Bitcoin in 2020. The company’s total Bitcoin holdings now exceed 152,800 coins, acquired at an average price of around $29,668 per Bitcoin. Saylor has frequently expressed his belief that Bitcoin is on a growth trajectory, stating, "If it's not going to zero, it's going to a million," indicating his conviction in Bitcoin’s potential to rise substantially in value over time.

This most recent purchase comes at a time when Bitcoin's price has shown volatility, yet Saylor remains undeterred. His approach has garnered considerable attention in the crypto community, not only for its boldness but also for its potential to influence corporate investment strategies in digital currencies.

MicroStrategy's continued investment in Bitcoin underscores a growing trend among institutional investors who are increasingly looking to add cryptocurrencies to their portfolios as a hedge against inflation and economic uncertainty. Saylor's strategy reflects a fundamental belief in Bitcoin's utility as a digital asset that can preserve wealth.

As the cryptocurrency market evolves, Saylor's actions may inspire other companies to follow suit, further contributing to Bitcoin's legitimacy and acceptance as an asset class.

Key Takeaways

Michael Saylor's MicroStrategy purchased 592 additional Bitcoin for $40 million, bringing total holdings to over 152,800 BTC.
Saylor emphasizes his belief that Bitcoin's value will either significantly increase or drop to zero, reflecting his bullish stance.
The acquisition aligns with a broader trend of institutional investment in Bitcoin as a hedge against economic instability.
MicroStrategy's strategy continues to influence corporate adoption of cryptocurrencies.

This article was inspired by reporting from Google News Crypto. · Report an issue