MicroStrategy founder and chairman Michael Saylor compared Bitcoin to New York City and its economy on Monday, calling it 'Digital Manhattan,' as this cryptocurrency set new records.
At a time when Bitcoin prices are hitting new all-time highs, Saylor said in an interview: 'We will keep buying, every day is a good day to buy Bitcoin.'
He said, 'It's like, I would have bought Manhattan every year for the last 100 years, 200 years, 300 years. You spend a little more than those who bought Manhattan before you, but investing in the economic capital of the U.S. is always a good investment.'
Before MicroStrategy is included in the NASDAQ 100 index on December 23, Saylor made the above remarks. This will also make the company part of the popular Invesco QQQ Trust ETF, which tracks the NASDAQ 100 index.
Since 2020, MicroStrategy has been purchasing Bitcoin and increased its buying efforts after the U.S. presidential election. On Monday, Saylor announced that the company purchased another 15,350 Bitcoins, bringing its total Bitcoin holdings to 439,000, worth approximately $46 billion.
In response to critics who label MicroStrategy's Bitcoin purchasing strategy as a Ponzi scheme, Saylor said: 'Just like developers in Manhattan, every time real estate prices go up, they issue more bonds to develop more real estate. That's why buildings in New York are so high, and this has been going on for 350 years. I would call it economics.'
