MicroStrategy CEO Michael Saylor is standing by his company’s decision to invest heavily in Bitcoin, despite recent price drops in the cryptocurrency market. Saylor defended MicroStrategy’s Bitcoin bet as the price of BTC plunged.
Saylor remains confident in Bitcoin’s long-term potential and believes that the recent price fluctuations are simply a part of the market’s natural volatility. MicroStrategy first invested in Bitcoin in August 2020 and has since continued to add to its holdings, making it one of the largest corporate holders of the cryptocurrency.
Despite facing criticism from some investors and analysts, Saylor remains steadfast in his belief that Bitcoin is a solid long-term investment. He points to Bitcoin’s scarcity, security, and potential for future growth as reasons for MicroStrategy’s continued commitment to the digital asset.
While the recent price drop may have caused concern for some investors, Saylor’s unwavering support for Bitcoin suggests that MicroStrategy will not be abandoning its investment anytime soon. Time will tell whether Saylor’s bet on Bitcoin pays off in the long run.