Michael Saylor: “Bitcoin is the best hedge against inflation”

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The head of MicroStrategy, Michael Saylor, said that the management of the company, on whose wallets 124,391 bitcoins are stored, is not going to sell these BTC reserves under any circumstances.

Even a 40% decline in the price of bitcoin compared to the highs did not shake the firm confidence of the leadership of MicroStrategy to keep coins in wallets, Sailor said in an interview with Bloomberg. On the contrary, such a reserve allows one of the largest corporate holders of BTC to look more boldly into the future, especially against the backdrop of accelerating inflation:

“Never and never. We don’t sell. We only buy and store bitcoins. This is our strategy. Bitcoin is the best defense, and I don’t think there could be anything smarter than converting all your money holdings into bitcoin in the face of rising inflation.”

Now, according to Saylor, is a good time to buy bitcoin – the price of the asset has dipped quite a lot, this makes it possible to buy more digital coins. The CEO of MicroStrategy noted that he is watching how the first cryptocurrency is bought by large companies from Wall Street:

“Now there is a consolidation of bitcoin. This is a great entry point for institutional investors.”

MicroStrategy tries to acquire bitcoins at the first opportunity. At the end of December, it became known that the company bought an additional 1,914 BTC worth about $94.2 million in cash at an average price of $49,229 per bitcoin. The total amount of funds in BTC on MicroStrategy wallets at the current rate is $5.2 billion.

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