ETH/BTC ratio falls by 5% – Should traders prepare for a dive or a rally soon?
- Saylor owns 17,732 Bitcoin, representing 10% of MicroStrategy’s total holdings.
- MicroStrategy’s stock surged 1,000% since adopting Bitcoin, but a recent dip of over 90% was noted.
Michael Saylor, the co-founder and chairman of MicroStrategy, known for his unwavering support of Bitcoin [BTC], recently disclosed that he has made a significant personal investment in the cryptocurrency.
Saylor’s Bitcoin holdings revealed
In a recent interview with Bloomberg, Saylor revealed that he owns 17,732 BTC and emphasized that he has not sold a single one of these digital assets.
“I continue to acquire more. I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.”
This announcement garnered significant attention because it’s the first time in four years that Saylor has publicly disclosed details about his personal Bitcoin holdings.
Though Saylor did not specify the exact amount of his current BTC holdings, he did confirm that he hasn’t parted with any of his tokens since his initial disclosure.
MicroStrategy’s present Bitcoin holdings
In addition to Saylor’s personal investments, his company, MicroStrategy, has emerged as the largest public corporate holder of Bitcoin, amassing 226,500 tokens by the end of July.
With the current market value, this extensive reserve is worth approximately $12.7 billion.
That being said, Saylor’s individual BTC holdings are notably significant, representing around 10% of MicroStrategy’s entire Bitcoin portfolio.
Remarking on the same, an X user- Yakuza said,
“Really not surprised. He’s been a true advocate for #bitcoin as long as I can remember.”
Saylor’s remark on Senator Lummis’s BTC bill
This disclosure coincides with Saylor’s recent interview with CNBC, where he referred to Senator Lummis’s strategic BTC reserve bill as a ‘Louisiana Purchase’ moment for the digital asset.
In using this term to describe Lummis’ Bitcoin reserve bill, Saylor implies it could have a transformative impact on U.S. BTC adoption, potentially positioning the nation as a leader in the cryptocurrency space.
This underscores not only Saylor’s personal investment in Bitcoin but also his advocacy for both his company and the nation to embrace and appreciate its value.
Market trends
As expected, MicroStrategy’s stock has skyrocketed nearly 1,000% since the company initiated its Bitcoin acquisition strategy.
Over the same timeframe, BTC itself has seen a substantial increase of over 500%.
However, despite Michael Saylor’s bold Bitcoin investment and MicroStrategy’s remarkable stock surge, the current market shows a stark contrast.
Source: Google Finance
As of the latest update, MicroStrategy’s stock has plummeted by over 90%, while Bitcoin, trading at $57,000, has experienced only a modest increase of 0.53%.
