Michael Saylor, the CEO of MicroStrategy, has been showcasing an extremely optimistic attitude towards Bitcoin. The company, which has announced several times its purchase of Bitcoin, was reported to have bought an additional 155 Bitcoins in October, bringing its total Bitcoin holdings to 158,300 BTC. According to Watcher.Guru’s report, MicroStrategy’s investment in Bitcoin has now reached an unrealized profit of 1 billion dollars.
Saylor, in particular, believes that the value and potential of Bitcoin will increase even more if the SEC approves Bitcoin ETFs for financial companies. According to Saylor, the SEC’s approval of such Bitcoin products could lead to wider acceptance and increased value of the cryptocurrency in mainstream financial markets.
“Bitcoin’s Success Affects the Stocks”
According to the last quarter reports of 2023, MicroStrategy’s stocks had shown an impressive increase of 246%. Saylor attributes this success not only to the general growth of the company but also to its investments in Bitcoin. Saylor, a vocal supporter of Bitcoin, noted that MicroStrategy has been using its Bitcoin investments to accelerate the company’s growth.
In an interview with Fox Business, he explains the significant position of Bitcoin on the balance sheet and its impact on the company’s strategy. Saylor also points out that the combination of government-induced inflation and technology-induced deflation creates challenging conditions, especially for companies outside the ‘Big Seven’ major technology firms.”