Michael Saylor, the chairman of MicroStrategy, is known as a staunch supporter of Bitcoin (BTC). He has shared his accumulation strategy for the pioneering cryptocurrency. Saylor has solidified his reputation as one of the most ardent supporters of BTC by publicly disclosing the company's Bitcoin purchase philosophy.
This statement came after Bitcoin recently broke through the $100,000 mark. The trajectory for 2024 has sparked renewed interest in BTC as a long-term investment.
Michael Saylor Shares Bitcoin Investment Plan
In a recent interview, Saylor reiterated his long-standing mantra of "buy Bitcoin, don't sell Bitcoin." He explained MicroStrategy's unwavering commitment to digital assets and the simplicity of their strategy.
"For the last 4 years, I've said to buy Bitcoin every day. I will buy Bitcoin at the all-time high forever," he said.
Saylor emphasized that it is crucial to view Bitcoin as a long-term capital asset, not a tool for short-term gains. He advised investors to apply dollar-cost averaging (DCA) to Bitcoin every quarter and allocate funds that they won't need for at least 10 years.
"If you have money that you don't need for 4 years, or even better, 10 years, put it into your portfolio. Allocate a portion of your long-term savings to Bitcoin and don't worry too much about short-term volatility," Saylor advised.
Dollar-cost averaging is a strategy that involves regularly investing a fixed amount, regardless of the market's performance. This approach helps to diversify investments over time, reducing the impact of volatility. Through DCA, investors can leverage market fluctuations to diversify risk.
For Saylor, the volatility that can surprise investors when approaching Bitcoin from a long-term perspective is not a concern. He believes that Bitcoin will appreciate in value against the dollar forever. Additionally, Saylor explained that MicroStrategy's substantial Bitcoin holdings have "massively created shareholder value."
This sentiment underscores the belief that Bitcoin's price trajectory is increasingly influenced by large-scale institutional participation. Companies like MicroStrategy and Marathon Digital (MARA) are not only accumulating Bitcoin but also contributing to its broader adoption as a store of value and a hedge against inflation.
Marathon Digital Joins the Bitcoin Accumulation Race
Saylor's remarks came amid similar expressions of confidence in Bitcoin from Marathon Digital Holdings. Over the past two days, the Bitcoin mining company has acquired 2,723 BTC and spent over $270 million on the digital asset.
According to a report by blockchain analytics firm LookOnChain, Marathon acquired 1,300 BTC for $130.66 million on Saturday. This followed the company's purchase of 1,423 BTC for $139.5 million on Friday. These acquisitions underscore Marathon's commitment to expanding its Bitcoin holdings, aligning with MicroStrategy's aggressive accumulation strategy.
Both companies have solidified their positions as Bitcoin heavyweights. MicroStrategy has consistently accumulated Bitcoin, integrating it significantly into its corporate treasury. Meanwhile, Marathon's recent purchases reflect the increasing trend of institutional investors stockpiling cryptocurrencies as the asset reaches new all-time highs.
Saylor's confidence, however, extends beyond the companies' profits. He believes that institutional investors like MicroStrategy and Marathon Digital play a crucial role in driving up Bitcoin's price.
"You don't need to understand how we do it. You just need to hold Bitcoin and let us drive the price up," he said.
According to BeInCrypto data, BTC is trading at $99,575, with a slight increase of 1.22% over the past 24 hours.
