Michael Saylor, known as much for being a Bitcoin bull and CEO of business intelligence producer Strategy (formerly Microstrategy) as for his viral and sometimes surreal social media posts, has issued a controversial new slogan regarding the cryptocurrency.
Thus, amid the turbulence on the financial market, and crypto first, the entrepreneur voiced a cry to “marry” Bitcoin. The other part of his statement was to divorce risk. Fair enough.
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Unlike most of Bitcoin supporters, Saylor’s words can be proved with actions, as the company led by him is currently “married” to 528,185 BTC — a figure equivalent to $43.71 billion. With an average cost of $67,548 per Bitcoin that Strategy has purchased, the current return on investment for this incredible stash of cryptocurrency stands at 22.78%.
Whether this “marriage” of Saylor, Strategy and Bitcoin will be a forever one remains open to speculation.
Many skeptics believe that once a severe financial crisis hits the U.S. economy, the company will be obligated to sell Bitcoin to cover their notes, bonds and other forms of debt, accrued previously to buy the cryptocurrency.
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However, Saylor has been buying Bitcoin for a long time — five years to be exact — and during that time the market has tested his strategy through bear market years.
On the other hand, the debt flywheel the entrepreneur has started in recent months has never been seen before, so conditions are different this time.
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“Innocent until proven guilty” fits this situation best, and until the market tests Saylor’s conviction in a big way, the entrepreneur has every right to post bullish comments and advise every other market participant to “marry” Bitcoin.
