On August 7, 2024, during an interview with Bloomberg, Micheal Saylor, the executive chairman and founder of MicroStrategy, said that there is never a bad time to buy Bitcoin (BTC). He also added: “We believe in buying Bitcoin when we have cash or when we can raise money in the capital markets.”
Micheal Saylor’s Words on Bitcoin
Saylor is a pro-Bitcoin and under his leadership, MicroStrategy has acquired a significant 226,500 BTC, making it one of the largest corporate holders. During the interview, he also said that Bitcoin is very volatile but that it is a superior asset compared to any other option the market has.
Did MicroStrategy Buy Bitcoin During the Stock Market Crash?
However, when the panelists asked Saylor if he jumped in when Bitcoin crashed to $50,000, he replied that they always buy Bitcoin “quarter after quarter after quarter.” He also added that this is a long-term strategy. In July 2024, MicroStrategy added a hefty 169 Bitcoin, worth over $11 million.
Apart from this, Saylor also urged investors and traders to understand that Bitcoin’s volatility is a feature, not a bug. He also noted,
“Bitcoin is a capital investment that you can hold for decades and that no company, competitor, counterparty or country can take away from you. It creates generational wealth for your family, your company or your country.”
Michael Saylor’s Personal Bitcoin Holdings
Additionally, Micheal Saylor also revealed his personal BTC holdings, according to records, he currently owns a significant $1 billion worth of Bitcoin. Before the stock market crash, Saylor posted a message on X, sharing “everyone knows the rules” and adding a “BUY BITCOIN” poster, as reported by Coinpedia on August 4, 2024.
At the time of writing, Bitcoin is trading around $55,955 and has seen a price drop of over 1.5% in the past 24 hours. Due to the massive volatility, the trading volume has dropped by 26% in the same period.
