Michael Saylor: Bitcoin at $100K Is ‘Here to Stay’

Michael Saylor, Executive Chairman of MicroStrategy and one of Bitcoin’s most prominent advocates, celebrated Bitcoin [BTC] reaching the $100,000 milestone. Speaking with Alex Thorn, Head of Firmwide Research at Galaxy, Saylor emphasized the milestone’s significance:

“I think it’s an important milestone because when you get to the six-figure level, I think it sends the message to people that Bitcoin is here to stay.”

Saylor noted Bitcoin’s evolution through key phases:

1. Early skepticism: Its identity and viability were hotly debated.
2. The Blocksize Wars: Internal conflicts shaped its development and purpose.
3. Institutional Adoption (2020-2024): Focus shifted to acceptance by governments and traditional markets.

Bitcoin’s recent surge, climbing from $67,000 to over $100,000 since November 5, has further solidified its role as a dominant force in global finance.

The 2024 U.S. Election: A Turning Point for Bitcoin

In an interview with CNBC, Saylor highlighted the impact of the upcoming 2024 U.S. presidential election on Bitcoin’s future:

“The election of 2024 is the single biggest thing that has happened in the past four years for Bitcoin.”

He underscored the critical role of political and regulatory environments in shaping Bitcoin’s trajectory.

MicroStrategy’s Bold Bitcoin Moves

MicroStrategy, under Saylor’s leadership, continues to make waves in capital markets. The company recently:

• Issued a $21 billion equity shelf registration and a $21 billion fixed-income plan, marking the largest offering of its kind in financial history.
• Acquired 21,550 additional Bitcoins, bringing its total holdings to 423,650 BTC, currently valued at $25.6 billion.

This unwavering commitment positions MicroStrategy as a global leader in the adoption of Bitcoin as a long-term strategic asset.

Saylor’s Long-Term Bitcoin Vision

Addressing Bitcoin’s price surge in a conversation with Barstool Sports founder Dave Portnoy, Saylor dismissed concerns that BTC’s price at $100,000 is too high:

“I’m gonna keep buying. I’ll be buying it at a million dollars a coin and I’ll probably be buying it at the rate of a billion dollars a day at a million dollars a coin, because that’s what I do.”

Saylor’s focus remains on long-term investment, undeterred by short-term fluctuations.

Market Performance

At press time, Bitcoin traded at $100,378.15, marking a slight 0.02% increase in the past 24 hours, according to CoinMarketCap.

Conversely, MicroStrategy’s MSTR stock faced a 4.67% decline, closing at $392.19, as reported by Google Finance.

Michael Saylor’s unwavering commitment to Bitcoin, even as it surpasses $100,000, signals his confidence in its long-term potential. With MicroStrategy doubling down on its holdings and institutional adoption growing, Bitcoin’s six-figure milestone is not just a celebration but a powerful statement: Bitcoin is here to stay.