MicroStrategy's Michael Saylor Reports $1 Billion Bitcoin Holdings

MicroStrategy co-founder and executive chairman Michael Saylor discloses that he owns about $1 billion in Bitcoin (BTC) in a bold show of trust in its future.

Saylor's Bitcoin Vision Unshaken
Saylor told Bloomberg Television that he has been slowly collecting Bitcoin for years and has no intentions to sell.

“I continue to acquire more,” Saylor said. I believe it's a terrific capital investment for a person, family, organization, or nation. I see no better investment.”

MicroStrategy, the corporate software company Saylor co-founded and headed as CEO until recently becoming executive chairman, has almost 226,000 BTC, including his personal hoard.

In 2020, MicroStrategy started hoarding Bitcoin to hedge inflation and is now the biggest publicly listed business holder. Company Bitcoin holdings are worth $13 billion.

Despite cryptocurrency market instability and price reductions, Saylor remains optimistic about Bitcoin's long-term prospects. He considers it a better investment and store of value than cash, bonds, or gold.

‘Death Cross’ Analysis & Short-Term Sell Signals

Market guru Timothy Peterson tweeted that Bitcoin had formed a “death cross,” when the 50-day average surpasses the 200-day average, during Monday's market drop. Interestingly, Peterson observes that this unusual incident has only occurred eight times since 2015.

Peterson found that Bitcoin had a good result 62% of the time after "death cross" events. Bear market years 2014, 2019, and 2022 had downturns.

However, Peterson doubted Bitcoin would go below $40,000 by year-end. Instead, he predicted a rise to over $90,000 by year's end, citing historical positive tendencies.

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