In this post. Michael Saylor doubles down on MicroStrategy's bitcoin investment strategy, claiming that no one has lost money holding bitcoin for at least four years.
Despite criticism from the Wall Street Journal and financial analysts, MicroStrategy's stock price has soared thanks to bitcoin's 115 percent growth in 2024 alone.
#MicroStrategy currently owns 214,000 bitcoins worth more than $7.4 billion. The company plans to buy more bitcoins, which could total $42 billion.
Michael Saylor, MicroStrategy's co-founder, is keeping his critics at bay, and #bitcoin is on his side. In four years of bitcoin ownership, I haven't lost anyone yet, he said in a recent #interview . According to him, BTC is not a chip to get rich. You can invest in it only if you really believe in its long-term potential. It requires faith, patience and, most importantly, vision.
He quoted legendary investor Warren Buffett, who said: You have to believe in the long-term potential of the company, and you have to have a vision.
Soon after, Saylor took to X (formerly Twitter) to criticize the Wall Street Journal (WSJ), which in 2022 called his bitcoin strategy reckless and even wrote that it was a risk that could tarnish the face of MicroStrategy.
The article was published at a time when MicroStrategy had just posted a $1.44 billion loss and its share price had fallen by nearly 50%. At the time, Mr. Saylor had stepped down as CEO and bitcoin was worth around US$20,000 after the Terra crash.
financial analysts seized the opportunity to warn that MicroStrategy might not survive if the bitcoin price did not recover. They even predicted that Sailor's massive bitcoin play would completely bankrupt the company.
Then FTX crashed, and bitcoin plummeted to $16,000. Sailor was sitting on a mountain of losses, and it looked like it might drag MicroStrategy down with it. However, in 2024, they had other plans.
It is one of the world's largest holders of bitcoin.
But not everyone is cheering on the sidelines.
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