Benzinga - Michael Saylor, executive chairman and former CEO of MicroStrategy Inc (NASDAQ: MSTR), reiterated on Tuesday his bullish stance on Bitcoin (CRYPTO: BTC), emphasizing his "buy and hold" strategy despite paper gains exceeding 70%.
ETFs Fueling Institutional Interest
Responding to concerns about sourcing new Bitcoin with the emergence of spot ETFs in an interview with Bloomberg TV, Saylor painted a positive picture.He described the ETFs as a "gateway" for institutional capital, attracting significant demand that outpaces daily miner supply by eight to 10 times.
This surge in institutional adoption, he asserted, would benefit the entire Bitcoin ecosystem, including MicroStrategy with its leveraged strategy.
Bitcoin As The Ultimate Exit Strategy
When questioned about taking profits on his $10 billion Bitcoin holdings, Saylor remained unfazed.He famously declared his intention to "buy the top forever," viewing Bitcoin itself as the "exit strategy" and the "strongest asset."
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Bitcoin Vs. Traditional Assets
Saylor compared Bitcoin's recent emergence as a $1 trillion asset class to established names like Apple and Alphabet-owned Google.However, he differentiates Bitcoin as a non-company asset class incapable of holding the massive capital influx he envisions.
This, he predicted, would drive capital away from traditional assets like gold, the S&P index, and real estate, towards Bitcoin due to its perceived technical superiority as a store of value.
No Reason To Sell
With this conviction in Bitcoin's long-term dominance, Saylor saw no reason to sell and switch to underperforming assets: "There's just no reason to sell the winner to buy the losers."Saylor had previously told Benzinga in an exclusive interview that he is "married to Bitcoin."
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Photo: Bitcoin via Pixabay, Saylor via Reason TV via Wikipedia Creative Commons
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