Microstrategy CEO remains bullish on Bitcoin despite decline

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MicroStrategy CEO Michael Saylor recently revealed that he has no intention to sell MicroStrategy’s $5 billion Bitcoin reserve even as the price slides below 40% from its ATH. The business intelligence firm is the largest listed company in terms of Bitcoin holding.

“Never. No. We’re not sellers,” he said. “We’re only acquiring and holding bitcoin, right? That’s our strategy.”

MicroStrategy became the first Nasdaq-listed company in the United States to buy and hold bitcoin in August 2020. Since then, the company has continued to accumulate more coins as part of its balance sheet, holding more than 124,391 BTC as per the latest data available.

Ever since the company announced its plans to accumulate Bitcoins in the long run, its shares have risen by more than 900% at one point.

In the interview, Saylor commented that Bitcoin is the most interesting thing in the current global financial sector. The only downside is that it can be a concern for investors in the short term. Calling them a source of “great comfort,” the Microstrategy CEO said:

“The best defense against inflation is a Bitcoin standard. So I don’t really think we could do anything better to position our company in an inflationary environment than to convert our balance sheet to Bitcoin.”

Regardless of the market conditions, MicroStrategy, led by Sailor, has consistently maintained a bullish stance since purchasing Bitcoin as a corporate asset. At the 3Q financial results briefing, it was announced that MicroStrategy is considering raising funds for additional purchases in the future.