Michael Saylor has confirmed he personally bitcoins worth about $1 billion and has never sold. The former MicroStrategy CEO said there is no other better capital investment asset to put his money in than the largest crypto asset.
During a live session with Bloomberg Wednesday, Saylor said bitcoin is a capital investment, superior to physical or financial capital, that “a corporation, competitor, counterparty or country can’t take away from you.” It will create generational wealth for your family, corporation, or your country, he said.
Saylor still holds 17,732 BTC from 2020
When asked about his personal holdings, Saylor revealed he still holds at least 17,732 BTC, which is worth almost $1 billion at current prices.
“I haven’t sold any bitcoin, and I continue to acquire more bitcoin. I think it’s a great capital investment asset […], and I can’t see a better place to put my money.”
Michael Saylor
Saylor first revealed he personally owned 17,732 BTC in 2020, which he acquired for about $175.2 million at an average price of $9,882. At current prices, Saylor’s bitcoin holdings are up over 466% or $817.7 million in profit.
Some have asked how much #BTC I own. I personally #hodl 17,732 BTC which I bought at $9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.
— Michael Saylor⚡️ (@saylor) October 28, 2020
“There is never a bad time to buy bitcoin,” Saylor says
MicroStrategy also began investing in bitcoin in the same year. The firm allocated $250 million from its cash holdings to acquire more than 21,000 bitcoins in August 2020 and has continued to buy the asset ever since.
MicroStrategy doesn’t wait for dips to buy into bitcoin, according to Saylor. The former CEO said they would generally acquire bitcoin whenever they have cash or can raise money in the capital markets or see the opportunity.
“We look at bitcoin as cyber Manhattan. There is never a bad time to buy a scarce desirable real estate in the greatest city in North America,” Saylor said. “There is never a bad time to buy bitcoin.”
In July, the company bought an additional 169 BTC for $11.4 million, bringing its total holdings to 226,500 BTC, worth $12.68 billion. MicroStrategy holds the largest bitcoin reserve among other public-traded companies.
