After plunging as low as $49,000 earlier this week during a broader market meltdown, Bitcoin (BTC) recovered most of its losses. Bitcoin surged over $62,000. At press time, BTC traded at $61,072, with a nearly 6.65% surge over the past 24 hours. This comes after a weekly plunge of 5%.
Several holders of the asset recorded a significant loss. Bitcoin bull Michael Saylor seems to be comfortable with his holdings.
Michael Saylor and MicroStrategy’s BTC Holdings
Michael Saylor’s Personal BTC Holdings
The MicroStrategy co-founder recently revealed that he had amassed over $1 billion in BTC. In 2020, Saylor noted that he owned roughly 17,732 BTC, which he had purchased at an average price of $9,882.
It should be noted that the value of the world’s largest cryptocurrency was a little over $13,000 when he made the purchase. When it reached its all-time high in March 2024, its price had increased by more than five times. Appearing in a recent interview, the Bitcoin bull said,
“I haven’t sold any bitcoin, I continue to acquire more bitcoin. It’s a great capital investment asset for an individual, a family, an institution, a corporation, or a country. And I can’t see a better place to put my money.”
He even refers to BTC as “the most desirable property in the universe.” Saylor goes on to stress the value of holding it as a long-term capital investment rather than squandering it on indulgences like ice cream or coffee.
Also Read: Bitcoin To Hit $200K By 2025, Shiba Inu To Reach $0.00005651
Looking Into MicroStrategy’s Bitcoin Holdings
MicroStrategy also holds a significant quantity of Bitcoin. This excludes Saylor’s holdings.
Also Read: Analysts: Bitcoin Could Be a “Save Haven” Amid Recession Concern
Saylor’s firm now has an astounding 226,500 BTC worth, at current exchange rates, about $12.94 billion. In addition, MicroStrategy purchased BTC at an average price of $35,158.
