MicroStrategy’s Executive Chairman Michael Saylor, known for his vocal advocacy of Bitcoin (BTC), shared his accumulation strategy for the pioneer crypto. Saylor revealed the philosophy behind his company’s Bitcoin purchases, cementing his reputation as one of BTC’s most steadfast supporters.
The remark came following Bitcoin’s recent surge past the $100,000 milestone. The 2024 trajectory has sparked interest in BTC as a long-term investment.
In a recent interview, Saylor reiterated his long-standing mantra, “Buy Bitcoin, don’t sell Bitcoin.” He elaborated on MicroStrategy’s unwavering commitment to the digital asset and explained the simplicity behind their strategy.
“Every day for the past four years, I’ve said buy Bitcoin. I’m going to be buying Bitcoin at the top forever,” he stated.
Saylor emphasized the importance of viewing Bitcoin as a long-term capital asset rather than a tool for short-term gains. He advised investors to dollar-cost average (DCA) into Bitcoin every quarter and allocate funds they would not need for at least a decade.
“If you have money you don’t need for four years or, even better, ten years, you put it into a portfolio. Sweep some long-term savings into Bitcoin and don’t get too worked up over the volatility in the near term,” Saylor advised.
Dollar-cost averaging is an investment strategy in which you invest a fixed amount at regular intervals, regardless of the market’s performance. This approach helps reduce the impact of volatility by spreading your investment over time. With DCA, the investor takes advantage of market volatility by distributing the risk.
For Saylor, the volatility that often spooks investors is a non-issue when Bitcoin is approached with a long-term perspective. He operates on the opinion that it is going to appreciate against the dollar forever. Further, Saylor explained that MicroStrategy’s substantial Bitcoin holdings have generated “massive amounts of shareholder value.”
This sentiment highlights a growing belief that Bitcoin’s price trajectory is increasingly influenced by large-scale institutional participation. Companies like MicroStrategy and Marathon Digital (MARA) not only accumulate Bitcoin but also contribute to its broader adoption as a viable store of value and hedge against inflation.
Marathon Digital Joins the Bitcoin Accumulation Race
Saylor’s comments come amid a similar display of confidence in Bitcoin by Marathon Digital Holdings. In the past two days alone, the Bitcoin mining firm has acquired 2,723 BTC and spent over $270 million on the digital asset.
Blockchain analytics firm Lookonchain reported that Marathon acquired 1,300 BTC worth $130.66 million on Saturday. This followed a significant purchase on Friday, when the company bought 1,423 BTC for $139.5 million. These acquisitions underscore Marathon’s dedication to expanding its Bitcoin reserves, aligning with MicroStrategy’s aggressive accumulation strategy.
Both companies have solidified their positions as Bitcoin powerhouses. MicroStrategy, known for its consistent accumulation, has amassed a substantial portion of its corporate treasury in Bitcoin. Meanwhile, Marathon’s recent purchases reflect a growing trend among institutional investors to stockpile the cryptocurrency as it achieves new all-time highs.
Meanwhile, Saylor’s confidence extends beyond his company’s gains. He believes institutional investors like MicroStrategy and Marathon Digital are instrumental in driving Bitcoin’s price higher.
“You don’t have to understand how we do it. You just need to hold your Bitcoin and let us drive the price up,” he remarked.
BTC Price Performance. Source: BeInCrypto
According to BeInCrypto data, BTC is trading at $99,575, a modest 1.22% gain over the last 24 hours.
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