Michael Saylor's Advice: Bitcoin is the Best Performing Asset
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MicroStrategy Continued Collecting Bitcoin
MicroStrategy has continued to amass Bitcoin since then, and its CEO has become one of Bitcoin's most outspoken proponents. MicroStrategy's most recent $BTC acquisition, which Saylor announced on April 5, means the company now has 129,218 bitcoins in its HODL, which were "bought for $3.97 billion at an average price of $30,700 per bitcoin." Saylor discussed Bitcoin yesterday (June 15) during an interview with CNBC's "Squawk on the Street" co-anchors David Faber and Carl Quintanilla, as well as Senior Markets Commentator Michael Santoli.
Faber began by asking about MicroStrategy's approximately $4 billion investment in $BTC, given the current bear market (which has seen $BTC decline to as low as $20,116 from an all-time high of around $69,044, which it achieved on November 10, 2021).
Saylor replied:
"I think it's been a net positive. We back-tested our strategy against every other alternative. If you roll the clock back to August 10, 2020, when we embarked on this journey, Bitcoin's performed 10x better than anything else. Gold's down 10%. Nasdaq is flat. Bitcoin has been up to 86% since that time. Bitcoin's the best-performing asset over any timeframe, two years, four years, eight years; Bitcoin's the best performing asset. I can't come up with a better idea…"
Even though the primary cryptocurrency is on the verge of falling below $20,000, Michael Saylor, the ultimate BTC bull, remains convinced that adopting the "bitcoin strategy" over two years ago was the best decision of all the available possibilities.
