Noted Hodler Says He’ll Never Sell His Co.’s $5B Crypto Stash

MicroStrategy (NASDAQ: MSTR) Chairman and CEO Michael Saylor proved once again his strict HODL mentality, saying he’s not even tempted to change his company’s bitcoin (CRYPTO;BTC) acquisition plan, despite the recent slide in the crypto’s price.

“Never. No. We’re not sellers, the noted bitcoin bull — who has called the digital property “the most compelling technical opportunity of the decade” — told Bloomberg in an interview published Thursday, adding, “we’re only acquiring and holding bitcoin, right? That’s our strategy.”

Saylor has predicted bitcoin will first print $600K a coin, before eventually hitting $6 million.

He sees BTC as “unstoppable” and recently said: “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place.”

If BTC hits $6 million it will emerge as $100T asset class.

MicroStrategy first invested in bitcoin back in 2020, becoming the first US traded firm to hold the cryptocurrency as part of its books. The company currently holds more than 124,000 BTC acquired at an aggregate price of $5.28 billion at current prices, according to Bitcoin Treasuries.

The Virginia-based software maker has made bitcoin part of its business model given that they purchase bitcoin directly, custody it themselves, and don’t lend it out.

Price Action

As of this writing, shares in MicroStrategy are up 2% to $470 a share. Bitcoin was last trading around $42,500. The crypto is down more than 10% month-to-date.

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