Michael Saylor: ‘No One Has Lost Money Holding Bitcoin for Four Years’
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Michael Saylor, co-founder of MicroStrategy, continues to defy his critics by claiming that his faith in Bitcoin has paid off.
“Nobody has lost money by holding Bitcoin for four years,” he said in a recent interview.
His argument emphasizes that Bitcoin is not about quick profits; it’s a long-term investment best approached by those with patience and vision. He echoed Warren Buffett’s words, “If you can’t hold it for ten years, you shouldn’t hold it for ten minutes.”
Shortly thereafter, Saylor challenged the Wall Street Journal (WSJ), which had previously criticized his Bitcoin strategy as a dangerous move that could backfire on MicroStrategy.
That criticism came as MicroStrategy was facing a $1.44 billion loss, its stock price had fallen nearly 50%, and Bitcoin was trading around $20,000 after the Terra crash.
Many analysts argued that if Bitcoin prices did not recover, the outlook for MicroStrategy would be bleak
After the FTX crash, Bitcoin prices dropped even further, reaching $16,000. This seemed to reinforce concerns that Sailer’s strategy could jeopardize MicroStrategy’s future.
However, this year the price of BTC has risen over 115% and MicroStrategy’s stock has jumped over 400% in the same period. The company now owns approximately 214,000 Bitcoin tokens worth over $7.4 billion, ranking it among the largest corporate holders of Bitcoin in the world. Sailer has even hinted at plans to expand the company’s Bitcoin holdings to $42 billion.
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