Michael Saylor, the chairman of MicroStrategy, has reaffirmed the company's unwavering commitment to Bitcoin investments, even in the face of significant financial losses. Despite a staggering $5 billion in paper losses, Saylor's bullish stance on Bitcoin remains intact, as the source notes that he continues to believe in the long-term potential of the cryptocurrency.
MicroStrategy Invests Additional $90 Million in Bitcoin
Last week, MicroStrategy made headlines by investing an additional $90 million in Bitcoin, increasing its total holdings to 714,644 BTC, which is currently valued at approximately $49 billion. This latest purchase highlights the firm's strategy to accumulate Bitcoin over time, regardless of market fluctuations.
Long-Term Confidence in Bitcoin
Despite the current valuation being about $51 billion lower than the initial investment, Saylor expressed confidence in the long-term potential of Bitcoin. He stated, 'We're not going to be selling. We're going to be buying Bitcoin,' indicating a steadfast belief in the cryptocurrency's future. Saylor also mentioned that the firm plans to continue its quarterly Bitcoin purchases indefinitely, reinforcing their commitment to the digital asset.
Recent reports indicate that eleven US state pension funds have suffered significant losses due to their investments in MicroStrategy stock, which have dropped over 60%. This situation contrasts sharply with MicroStrategy's ongoing commitment to Bitcoin, as detailed in the latest news.
