The CEO of Microstrategy expects the price of bitcoin to reach $6 million, noting that it is “unstoppable” and will replace gold. ExecutiveHis personal holdings include 17,732 Bitcoins, while the company has 122,478.
Microstrategy’s CEO Expects Bitcoin to Hit $6 Million
In a recent interview, Microstrategy CEO Michael Saylor spoke about bitcoin strategies and his prediction of the price for BTC in an Interview with The Information. This interview was published this week.
Saylor stated that he owns at most 17,732 Bitcoins. That is approximately the same amount as he reported back in October 2017. With the current BTC prices, Saylor’s bitcoin stash amounts to $858million.
Microstrategy’s executive at Microstrategy never sold his Bitcoins and doesn’t believe that they should. Further, Information stated:
Saylor sees bitcoin reaching $600,000.00 per coin. And eventually, $6,000,000.
Microstrategy currently has almost $6 billion in Bitcoin. The coins were acquired at an average purchase price of $29,861 and for the cost basis of $3.7 billion, according to the company’s “Investor Day” presentation, published last week.
Microstrategy described itself as “the largest publicly traded corporate holder of bitcoin in the world and the first public company to adopt bitcoin as primary treasury reserve asset.” Its corporate strategy is to “Acquire and hold bitcoin long-term” and “purchase bitcoin through use of excess cash flows, and debt and equity transactions.”
In November, Saylor said that bitcoin was “unstoppable” and will “emerge as a $100 trillion asset class.” The CEO has repeatedly said that BTC will replace gold. He said early this month: “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place.”
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