Michael Saylor, the executive chairman of MicroStrategy, has revealed his personal Bitcoin holdings amount to $1 billion.
Saylor, a prominent Bitcoin (BTC) advocate, has been a vocal proponent of Bitcoin’s potential, predicting future value increases and advocating for it as a great option for long-term capital management.
JUST IN: Michael Saylor says he personally owns more than $1 billion worth of #Bitcoin.
— Watcher.Guru (@WatcherGuru) August 7, 2024
MicroStrategy, under Saylor’s leadership, has also amassed a substantial Bitcoin reserve, holding approximately 226,500 BTC as of Aug. 1.
“I think we see great signs of Bitcoin adoption around the world,” said Saylor at a Bitcoin Park fireside chat.
At its current price of $56,000, a billion dollars worth of Bitcoin would be equivalent to approximately 17,857 BTC.
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MicroStrategy’s aggressive Bitcoin adoption
The company’s aggressive Bitcoin acquisition strategy has been part of its broader investment strategy, with Saylor stating that Bitcoin represents a hedge against inflation and a superior store of value compared to traditional assets.
MicroStrategy recently announced plans to raise $2 billion through the sale of its class A shares to invest further in Bitcoin and manage debt. The company, already the largest public Bitcoin holder, filed with the SEC on Aug. 1 to pursue the strategy.
The Virginia-based firm aims to capitalize on Bitcoin’s strong performance, although the timeline for their most recent share sale remains unspecified. Proceeds will be used for general corporate purposes, primarily acquiring more Bitcoin.
Saylor has long stated that MicroStrategy will continue to buy and hold Bitcoin for years without any aggressive plans to sell.
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