Despite a dreadful CPI report, Saylor has insisted that MicroStrategy is adopting a long-term strategy with regard to its Bitcoin assets in response to market volatility.
Saylor also claimed that his business was equipped to withstand Bitcoin’s volatility when it initially narrowed down on its crypto strategy.
The main reason affecting the financial markets in general, and successful crypto markets in particular, was the U.S. inflation rate, which shot up to an all-time high and sparked several beneficial sales cycles.
Michael Saylor, the CEO of MicroStrategy, is a well-known supporter of Bitcoin and a fan of cryptocurrencies. He already voiced his opinion on the true value of Bitcoin to draw attention to the severe tax.
Saylor stated in a recent tweet that despite the high inflation rate and other major global reserve currencies depreciating much more swiftly than the U.S. dollar, many fundamentally inactive people do not grasp that 1 Bitcoin signifies much more than 1 Bitcoin.
MicroStrategy’s Massive bet on BTC
Saylor makes it evident that Bitcoin’s worth is unchanged despite the decline in macroeconomic indicators.
He also demonstrates how a real-world cryptocurrency user does not view cryptocurrencies as equivalent to fiat money.
In the meantime, MicroStrategy has currently lost more than $1 billion on paper due to its Bitcoin holdings. The institution purchased 129,699 BTC for an average price of $30,664 per BTC as of June 28. At that time, the currency was worth $4 billion.
The sum of all previously verified Bitcoin purchases by MicroStrategy came to 480 BTC, totaling $10 million.
