MicroStrategy CEO won't sell $5B BTC stash despite crypto winter

Despite a 40% driblet successful the worth of Bitcoin (BTC), MicroStrategy's Michael Saylor has nary volition of selling his firm's $5 cardinal stash.

Even if BTC suffers a lengthy carnivore market, Saylor told Bloomberg that helium is simply a "Bitcoin bull," and helium does not mean to change MicroStrategy's multibillion-dollar BTC acquisition plan. He took a steadfast stance against cashing retired BTC:

“Never. No. We’re not sellers. We’re lone acquiring and holding Bitcoin, right? That’s our strategy.”

This existent crypto wintertime doesn't person Michael Saylor feeling each that cold. He tells @emilychangtv wherefore successful Studio 1.0 https://t.co/EsUlY5sscN pic.twitter.com/zWStdl5qsF

— Bloomberg TV (@BloombergTV) January 20, 2022

MicroStrategy became the archetypal publicly listed corporation successful the United States to acquire and clasp Bitcoin arsenic portion of its equilibrium expanse successful Aug. 2020. Since then, the concern bundle shaper has amassed astir 124,391 BTC worthy astir $5.2 cardinal astatine existent marketplace prices.

Due to the ample information of their equilibrium expanse being taken up by cryptocurrency, the company's shares person turned into a means to get vulnerability to the ‘digital gold.’ After announcing its task into BTC, Microstrategy's banal skyrocketed 900% astatine 1 time, however, precocious its collateral went into a tailspin aft being exposed to excessive buying events financed successful portion with borrowed funds.

Since August 2020, MicroStrategy has continuously boosted its Bitcoin position, keeping its promise to acquisition adjacent more of the large integer currency. Late past year, Microstrategy bought 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, bringing its full to 124,391 BTC.

Related: Billionaire capitalist Bill Miller puts 50% of nett worthy successful Bitcoin

Despite the caller marketplace sell-off, MicroStrategy's CEO inactive considers BTC 1 of the champion ostentation hedges and alternatives for banal buyback events. Saylor dismissed immoderate concerns astir the cryptocurrency's diminution from its all-time precocious of $69,000 successful November to little than $40,000 this month, stating that due to the fact that ostentation is truthful high, the company's assets are really a root of "great comfort."

Saylor, who antecedently branded currency a "melting crystal cube," anticipates much Wall Street names volition bargain BTC astatine existent prices, describing it arsenic "a large introduction constituent for organization investors."