Chair

Bitcoin

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Reserve

<ul>
 <li aria-level="1">Saylor criticizes opaque investment strategies, favoring transparent and understandable approaches over secretive financial maneuvers.</li>
 <li aria-level="1">MicroStrategy holds $42.5 billion in Bitcoin, with an average purchase price above $60,000, reflecting a strategic investment focus.</li>
</ul>
Bitcoin has once again breached the $100,000 threshold, trading currently at $100,705. This significant uptick brought Bitcoin’s market capitalization near the $2 trillion mark, reflecting robust investor confidence and market momentum.&nbsp;
This level was last touched following comments from Federal Reserve Chair Jerome Powell, who positioned Bitcoin as a competitor to gold.
MicroStrategy continues to <a href="https://www.ethnews.com/microstrategy-faces-a-30-billion-loss-in-four-days-amid-bitcoin-volatility/" rel="noopener noreferrer nofollow">bolster its holdings</a>, which are now valued at approximately $42.5 billion. The firm’s average purchase price for these holdings has surpassed $60,000, signifying a long-term commitment to Bitcoin’s growth potential.&nbsp;
Michael Saylor, has been vocal about his strategy regarding Bitcoin, emphasizing it as a preferable long-term investment over traditional assets like gold. In a recent statement, Saylor highlighted the steadfast approach of holding Bitcoin, reflecting a clear strategy of accumulation amidst the cryptocurrency’s price fluctuations.
<div class="youtube-embed" data-video_id="R87vco0jHvo"><iframe title="Michael Saylor on BTC at $100K and the Future of MicroStrategy" width="696" height="392" src="https://www.youtube.com/embed/R87vco0jHvo?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
During an interview with Alex Thorn, head of firmwide research at Galaxy, Saylor <a href="https://www.ethnews.com/michael-saylor-reaffirms-microstrategy-will-not-sell-its-bitcoin-holdings/" rel="noopener noreferrer nofollow">expressed</a> a firm rejection of the notion of selling any of MicroStrategy’s Bitcoin assets. He articulated concerns that such a move would severely damage the trust placed in them by the cryptocurrency community, stating, “They would never trust us ever again.”&nbsp;
Saylor also critiqued the opaque strategies employed by some investment funds, specifically hedge funds, asserting his preference for transparent and understandable investment methods.
<blockquote>
 “If you show me a hedge fund that makes a billion dollars in an opaque, way I don’t want to invest a dime in you,” Saylor said. 
</blockquote>
His commentary aligns with a broader skepticism of secretive or complex financial maneuvers in favor of more straightforward, accountable investment approaches.
As Bitcoin continues to draw <a href="https://www.ethnews.com/how-michael-saylors-bitcoin-bet-is-making-microstrategy-a-wall-street-phenomenon/" rel="noopener noreferrer nofollow">institutional interest</a>, its comparison to traditional safe-haven assets like gold is increasingly relevant, especially as discussions about its potential to eventually rival gold’s market cap continue to circulate.&nbsp;
The post <a href="https://www.ethnews.com/microstrategys-bitcoin-holdings-hit-42-5-billion-as-btc-price-soars-past-100000/" rel="noopener noreferrer nofollow">MicroStrategy’s Bitcoin Holdings Hit $42.5 Billion as BTC Price Soars Past $100,000</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

MicroStrategy’s Bitcoin Holdings Hit $42.5 Billion as BTC Price Soars Past $100,000

ETHNews

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