Michael Saylor reveals $1b in personal Bitcoin holdings

Michael Saylor, Chairman of MicroStrategy, announced that his personal Bitcoin holdings have reached $1 billion.

A prominent advocate of Bitcoin (BTC), Saylor has been an outspoken advocate of its potential, predicting its future value increases and arguing that it is a great option for long-term capital management.

BREAKING: Michael Saylor says he’s personally worth more than $1 billion #Bitcoin.

— Observer.Guru (@GözcüGuru) August 7, 2024

MicroStrategy, led by Saylor, has also built a significant Bitcoin reserve of around 226,500 BTC as of August 1.

“I think we’re seeing great signs of Bitcoin adoption around the world,” Saylor said during a talk held at Bitcoin Park.

At its current price of $56,000, one billion dollars worth of Bitcoin would be equivalent to approximately 17,857 BTC.

MicroStrategy’s aggressive Bitcoin adoption

The company’s aggressive Bitcoin acquisition strategy has been part of its broader investment strategy, with Saylor citing Bitcoin as a hedge against inflation and a superior store of value compared to traditional assets.

MicroStrategy recently announced plans to raise $2 billion through the sale of its Class A shares to further invest in Bitcoin and manage debt. The company, already the largest publicly traded Bitcoin holder, filed with the SEC on Aug. 1 to pursue the strategy.

The Virginia-based firm aims to capitalize on Bitcoin’s strong performance, but the timeline for its latest stock sale has not yet been specified. Proceeds will be used for general corporate purposes, primarily to acquire more Bitcoin.

Saylor has long said that MicroStrategy will continue to buy and hold Bitcoin for years without any aggressive sales plans.