'If it's not going to zero, it's going to a million': Michael Saylor's Strategy buys another 592 bitcoin for $40M
Despite the overall decline in cryptocurrency prices, the Strategy company, led by well-known Bitcoin maximalist Michael Saylor, continues to actively buy the first cryptocurrency. According to the latest data, Strategy has purchased another 592 bitcoins for about $40 million.
Strategy's current holdings account for more than 3.4% of the total supply of 21 million bitcoins, which is equivalent to approximately $47.5 billion at the current exchange rate. Thus, Saylor confirms his reputation as one of the largest private investors in Bitcoin, despite its volatility.
Saylor's strategy is to buy Bitcoin for the long term. He has repeatedly stated that 'if [Bitcoin] is not going to zero, it's going to a million dollars'. This approach reflects the entrepreneur's confidence in the potential of the first cryptocurrency in the long term, despite short-term price fluctuations.
On the one hand, Saylor's actions may seem risky against the backdrop of the general decline in interest in cryptocurrencies. However, his commitment to buying Bitcoin 'at any price' indicates a deep belief that digital gold will ultimately rise significantly in value.
For investors focused on long-term cryptocurrency investments, Saylor's strategy can serve as a benchmark. Despite the volatility of the market, faith in the potential of Bitcoin in the long term remains one of the key factors in decision-making.