MicroStrategy Inc.’s Michael Saylor is putting his money were his mouth is when it comes to Bitcoin, saying he has personally accumulated around $1 billion of the cryptocurrency.
About four years ago, Saylor disclosed in a tweet that he owns 17,732 Bitcoin, and he hasn’t sold any of the digital tokens, the executive chairman of the largest public corporate holder of Bitcoin said during an interview on Bloomberg Television. Bitcoin traded at around $56,000 on Wednesday.
“I continue to acquire more,” Saylor said, declining to disclose the exact amount of Bitcoin he owns personally. “I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.”
MicroStrategy held 226,500 Bitcoin as of the end of July. The company began acquiring the cryptocurrency in 2020 as a way to hedge against inflation.
The Tysons Corner, Virginia-based enterprise software firm registered a second consecutive quarterly loss in the three months ended in June after taking an impairment charge against the value of its roughly $13 billion in Bitcoin holdings.
Shares of MicroStrategy have surged almost 1,000% since the firm began buying Bitcoin. The digital currency has increased more than 500% during the same period.
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