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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

MicroSrategy CEO Michael Saylor Says Bitcoin Is A Safe Haven

Best Owie
Best Owie
3 years ago
3 mins read
crypto weekly market analysis

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Bitcoin is the leading investment for MacroStrategy, a division of software company, MicroStrategy. Michael Saylor, who heads up this firm, has always been a BTC maximalist. Saylor has both a personal and institutional stake in the digital asset. MacroStrategy has continued to up its investment in the digital asset since it first started investing. So has its CEO, Michael Saylor.

Saylor has never been shy about expressing his support for BTC. The CEO regularly talks about the asset on his Twitter page. Usually encouraging people to consider investing in the digital asset. Now, Saylor has taken to his Twitter account once again to show support for the digital asset.

Related Reading | ARK Invest CEO: Bitcoin In “Capitulation Phase,” Still Set For $500k

Talking about what is the best store of wealth presently, Saylor had previously put out a poll to his followers on the platform. The options in the poll ranged from well-known modes of investments, alongside BTC. The poll came out in the overwhelming majority for the pioneer cryptocurrency.

The safest place to store your wealth over the long term:

— Michael Saylor⚡️ (@saylor) August 18, 2021

Following the completion of the poll, Saylor posted a reply to the poll. According to Saylor, bitcoin still remains the safest bet to invest in. The CEO called inflation a safe be. Then said that bitcoin was a safe haven.

#Inflation is a safe bet. #Bitcoin is a safe haven. https://t.co/yvzLqwYfYI

— Michael Saylor⚡️ (@saylor) August 26, 2021

Related Reading | Why Breaking $49K Is Important For Bitcoin To See Another All-Time High

This mostly points to BTC being proposed countless times by investors in the market. The year over year of returns on BTC has far exceeded the growing inflation rate of the U.S. dollar. Hence being a comfortable hedge against inflation. While simultaneously returning profits for the investors.

BTC has far outperformed both the S&P, NASDAQ, and gold in its short time being live. U.S. Senator Cynthia Lummis had earlier in the year proposed bitcoin as a way to fight against growing inflation by backing up the U.S. dollar with BTC.

MacroStrategy’s Bitcoin Investment

At the time of this writing, Saylor’s firm MacroStrategy owns over 100,000 BTC. Amounting to over $5 billion in value. The cost basis for these coins is $2.9 billion. This shows that MacroStrategy has seen 1.8x returns on their initial investments in BTC, according to this report from Bitcoin Treasuries.

Another not well-known fact about MicroStrategy is the fact that its board of directors is paid in bitcoin. CEO Michael Saylor believes that bitcoin will be the most disruptive technology of our lifetime. Thus, has made his firm revolve around the digital asset.

Bitcoin price chart from TradingView.com

BTC price recovers from dip | Source: BTCUSD on TradingView.com

BTC is currently trading above $48K at $48,238. This is after a dip that had dragged the price of the asset back down to the $46K range. Currently, bitcoin looks to be in an upward trend that will see the asset test $50K before the weekend runs out.

Chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

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Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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