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Microstrategy CEO: 2021 Will Be a Good Year for Bitcoin

Microstrategy CEO: 2021 Will Be a Good Year for Bitcoin
  • Microstrategy recently bought 314 BTC. In line with this, CEO Saylor expressed positivity that “2021 is going to be a good year for Bitcoin.”
  • Microstrategy made multiple BTC investments since 2020.

Microstrategy CEO Michael Saylor expressed optimism for Bitcoin this year. In his recent CNBC interview, he confidently said that 2021 is going to be a good year for Bitcoin. In fact, his statement is in line with the multi-billion dollar company’s recent acquisition of around 314 BTC.

Microstrategy CEO is Bullish on Bitcoin

Saylor proudly shared on a tweet that Microstrategy purchased approximately 314 bitcoins for $10 million. This is specifically in accordance with the United States Securities and Exchange Commission (SEC). For this reason, Microstrategy now holds approximately 70,784 bitcoins at its disposal.

Microstrategy
Source: Microstrategy

With this huge amount of BTC taken off the market, some say that this will increase the scarcity of Bitcoin. Unsurprisingly, Microstrategy has already made significant BTC investments since last year.

In retrospect, MicroStrategy has invested an additional $650 million into Bitcoin at an average price of $21,925 per BTC in December 2020. This is a relatively low value in comparison to the $31,308 per BTC purchase it did yesterday.

Aside from this, the biggest independent publicly-traded business intelligence firm has previously bought $425 million worth of Bitcoin in August 2020 as part of their “new allocation strategy”. Moreover, Saylor also shared his views regarding the leading asset’s volatility.

He has pointed out that Bitcoin’s volatility is not that high compared to other stocks like Apple and Facebook and other commodities such as gold and oil. In addition, he estimated roughly $250 trillion assets allotted for Bitcoin in the years to come.

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.