Michael Saylor confirms readiness to hold Bitcoin after 40% price drop

Michael Saylor, head of analytics software maker MicroStrategy, in a conversation with Bloomberg confirmed his commitment to a strategy of buying and holding Bitcoin, despite a 40% decline from its ATH.

“Never. No. We are not sellers.”, the top executive said.

According to Saylor, he feels “great comfort” amid rapidly rising consumer prices and is not rattled after the drop from $69,000 to $40,000.

“The best protection against inflation is Bitcoin. I don’t think we could have done anything better […], than moving our reserves into the first cryptocurrency.”, he explained.

MicroStrategy holds on its balance sheet 124,391 BTC worth more than $5.2 billion at current prices. The company spent about $3.75 billion on the purchases (average price $30,159).

Bloomberg noted that MicroStrategy’s shares lag Bitcoin’s price action. The agency attributed this to a decline in risk appetite across markets overall.

In December, Saylor said that the company will explore opportunities for additional earnings on its Bitcoin assets.

Earlier, Fidelity Digital Assets forecasted the purchase of the first cryptocurrency by states.

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