- MicroStrategy has acquired over $12.7 billion in Bitcoin, representing more than 1% of all Bitcoins.
- Saylor’s strategic Bitcoin purchases align with his view of the cryptocurrency as a hedge against inflation.
Michael Saylor, chairman and co-founder of MicroStrategy, has issued a thought-provoking statement to the crypto community, urging them to “learn to think in Bitcoin.” This call to action arrives at a period marked by minimal activity in the crypto markets, with Bitcoin and other significant cryptocurrencies showing scant movement.
Learn to think in #Bitcoin. pic.twitter.com/yh59Lu2ZX4
— Michael Saylor⚡️ (@saylor) June 16, 2024
The crypto market is currently in a subdued phase, with Bitcoin recently dropping to its lowest level in nearly a month, hitting a low of $65,005 before making a modest recovery.
According to the latest figures from CoinMarketCap, Bitcoin’s price now stands at $66,571, reflecting a slight increase of 0.40% on the day. Meanwhile, the broader market exhibits a mixed performance, with several cryptocurrencies recording losses over the past 24 hours.
Saylor’s perspective on Bitcoin has been consistent since he began acquiring the digital asset in 2020 as a hedge against inflation and an alternative to cash reserves. His firm, MicroStrategy, now holds approximately $12.7 billion in Bitcoin, accounting for more than 1% of all Bitcoin in existence.
Since initiating his Bitcoin investments, the value of the largest cryptocurrency by market capitalization has soared by over 600%.
This year alone, Bitcoin has appreciated by about 60%, partly fueled by optimism surrounding the approval of U.S. Bitcoin spot ETFs in January. Concurrently, MicroStrategy’s stock has surged about 135%.
In a move to further capitalize on this momentum, MicroStrategy recently increased its convertible note offering by 40% to $700 million, with plans to allocate these funds towards additional Bitcoin purchases.
The essence of Saylor’s message, “learn to think in Bitcoin,” suggests a strategic approach during these quieter times in the market. It invites the crypto community to reflect on the long-term possibilities of Bitcoin and to consider the broader implications of its integration into financial strategies.
This encouragement could be interpreted as a prompt to view Bitcoin not merely as a speculative asset but as a foundational element in a new financial paradigm.
Saylor’s advice may also resonate as a broader call to adopt the financial structures introduced by cryptocurrencies, signaling a transformation in the conceptualization of value and wealth.
