Key Takeaways
MicroStrategy has purchased an additional 3,000 Bitcoins, continuing its strong commitment to the cryptocurrency.
Michael Saylor advocates for Bitcoin over other asset classes, noting he has no plans to sell the company’s holdings.
Analysts predict Bitcoin ETFs might outpace gold ETFs in assets within two years.
MicroStrategy, led by Michael Saylor, has expanded its Bitcoin (BTC) portfolio by purchasing 3,000 more units of the digital currency.
This acquisition, amounting to $155 million, reflects the company’s ongoing commitment to Bitcoin.
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An X post by Saylor revealed that as of February 25, MicroStrategy “holds 193,000 BTC acquired for ~$6.09 billion,” making it the leading Bitcoin investor among public companies.
In a recent interview, the CEO advocated for the superiority of Bitcoin over other asset classes and mentioned he was uninterested in selling the company’s Bitcoin holdings:
There’s just no reason to sell the winner to buy the losers.
Senior ETF analyst Eric Balchunas and associate analyst Andre Yapp are also optimistic about Bitcoin, suggesting that Bitcoin ETFs could pass gold ETFs in size within the next two years.
Their report notes a remarkable influx of over $8 billion into Bitcoin ETFs, significantly outpacing the $3.6 billion managed by gold ETFs during the same timeframe.
This shift could challenge gold ETFs, holding $90 billion in assets, especially given the stagnant gold price performance.
Michael Saylor’s unwavering belief in Bitcoin’s superiority over traditional asset classes reinforces the sentiment that cryptocurrencies are not only here to stay but are poised to redefine investment strategies.
The acquisition was announced shortly after MicroStrategy’s X account fell victim to a cybersecurity breach, during which a hacker shared fake token airdrop links, defrauding users of over $440,000.
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
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