Michael Saylor, the CEO of MicroStrategy has revealed that he does not want to sell his bitcoins (BTC). Basically, this is nothing new. Indeed, in all his interviews and on social networks, when the question of the sale of his stock of BTC is posed to him, he has always replied that he does not intend to sell them. Parting with his precious bitcoins is by no means an option for him, even if the price drops.
The principle is not to sell bitcoins (BTC)
Usually, when the price of BTC drops, investors panic and start selling their stash in order to save money. For many market participants, this is the golden rule to apply. So when on November 11, 2021, the price of the cryptocurrency fell all the way to $42,000 from a high of $68,744, many people parted ways with their assets.
Although several investors sold their stock of BTC at the height of the crisis, the company MicroStrategy kept its stock. She had announced that she does not plan to sell them in any way. And yet, it is the company that has more funds in BTC. In a recent interview with Bloomberg, Michael Saylor claimed that his company will not trade bitcoins (BTC).
In Mr. Saylor’s eyes, “it is unthinkable that MicroStrategy is parting with its $5 billion+ bitcoin stack,” he said during the interview. “Never, we are not sellers. We only acquire and hold bitcoins (BTC). This is our strategy.” he added.
A large reserve of bitcoins (BTC)
About the fall in value of BTC, the CEO said that this is in no way a cause for concern for him. In fact, his stock of BTC, gives him “a great comfort”, despite market fluctuations and high inflation. Even if the downtrend continued for several months, Mr. Saylor does not plan to part with his cryptocurrency stock.
At the end of 2020, MicroStrategy became the first publicly traded U.S. company to buy and hold bitcoin (BTC) as part of its balance sheet. Since then, the company has accumulated a large reserve of BTC. In total, it holds nearly 124,391. Thus, in its coffers, the company has a reserve of 5.2 billion dollars, if we take into account the current price.
Under its belt, the MicroStrategy company has more than 124,391 bitcoins (BTC), which is around $5.2 billion. Still, the company does not plan to stop acquiring BTC. On the contrary, she plans to continue to buy some and, paradoxically, she does not wish to sell any.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.