• Michael Taylor, an avid supporter of Bitcoin, does not plan to sell any of his MicroStrategy Bitcoins for the time being.
• “There’s no reason to sell winners and buy losers,” Saylor said in an interview on Bloomberg TV on Monday.
• Although Bitcoin competes with much larger asset classes such as gold, real estate, and the S&P 500, Saylor argued that Bitcoin is a better product.

Michael Saylor of MicroStrategy said in an interview with Bloomberg TV on the 20th that he does not intend to sell any of his company’s Bitcoin (BTC) for the time being. There is a possibility that it may not be sold forever.

Profit from buying Bitcoin is $4 billion

“Spot ETFs (exchange traded funds) have opened the door for institutional capital to flow into the Bitcoin ecosystem,” Saylor said, adding, “[ETFs]are driving the digital transformation of capital. “Hundreds of millions of dollars of capital are flowing into the digital economy from traditional analog ecosystems every day.”

MicroStrategy held 190,000 BTC at the end of January, purchasing each BTC for an average of $31,224. Bitcoin is currently trading at approximately $52,000 (approximately 7.8 million yen, equivalent to 150 yen to the dollar), so the company’s assets are worth approximately $10 billion (approximately 1.5 trillion yen). Of that amount, $4 billion (approximately 600 billion yen) will be profit.

Bitcoin is an “exit strategy”

While many investors may consider exiting at this point, Saylor said, “Bitcoin is an exit strategy.”

Thaler pointed out that Bitcoin, which currently has a market capitalization of over $1 trillion, competes with asset classes such as gold, real estate, and even the S&P 500, which have market capitalizations many times higher. He then argued that Bitcoin is better than all of them.

“We believe that capital flows from those asset classes into Bitcoin will continue as Bitcoin is technically superior to those asset classes. There’s no reason to buy one.”

Rebranded as a Bitcoin development company

Originally a software company, MicroStrategy first started purchasing Bitcoin in August 2020 and has been consistently adding to its portfolio ever since. In parallel with the fourth quarter payment report, the company rebranded itself as a “Bitcoin development company” and strengthened its efforts in crypto assets.

MicroStrategy stock is up 11.8% since the beginning of the year.

｜Translation and editing: Rinan Hayashi
｜Image: CoinDesk
｜Original text: Michael Saylor Not Interested in Selling: ‘Bitcoin Is the Exit Strategy’