Strategy Could Buy as Much as 7% of Bitcoin Supply, Says Michael Saylor

Bitcoin The co-founder of Treasury Company Strategy, Michael Saylor, said on Friday that the Nasdaq-Genten company could ultimately retain more than 7% of the total range of the leading cryptocurrency of 21 million coins.

But Saylor, who pioneered in the Bitcoin Treasury plan of the strategy, said that the company would not want to buy to buy all digital assets because he wants “everyone to play” in an interview with CNBC.

‘I don’t think we’ll get everything about it [the Bitcoin]”Saylor said.” I don’t think that in the range of 3-5% or 3-7% is too much. ”

“We would not all want it – we want everyone to have their stretch,” he added.

Strategy – Formerly MicroStrategy – currently owns just over 3% of the current 19,900,346 stock Bitcoin. Only 21 million BTC will ever be beaten, with the last coin that is expected to be created in the year 2140.

The Tysons Corner, the Virginia -based company is the world’s largest company holder of Bitcoin, with 628.791 Digital coins $ 72 billion worth it Today’s BTC price from $ 114,692. The company started to buy Bitcoin for the first time in 2020.

The acquisition of 7% of the total Bitcoin delivery would give the company 1.47 million BTC, currently rated at around $ 169 billion.

Strategy struggled during the COVID-19 Pandemie when inflation exhausted its money stack, so the company went into survival mode in August 2020, which ran from software development to collecting Bitcoin.

Saylor, who was CEO of Strategy at the time, has since called Bitcoin the Supreme Asset because it is scarce and has encouraged other companies to buy it to retain capital.

The share price of the strategy fell in Friday trade by more than 6% to trade below $ 380, the first time it has fallen under that threshold since the beginning of July.

But the share has risen more than 2,488% since the first Bitcoin purchase of the company in August 2020.

Strategy now buys and holds Bitcoin, and investors buy its shares – MSTR – to get exposure to the cryptocurrency without having to hold it yourself. The company issues debts to finance its purchases.

Saylor said In a profit of the second quarter on Thursday, the price of Bitcoin could still fall by 80% to 90% and the company could handle the drawdown without selling its BTC.

Countless users believe broadly that strategy will do that Dump no bitcoin In the coming months, the company gives a chance of less than 8% to sell a BTC before the end of 2025 (disclosure: Myriad is a product of DecryptThe parent company, Dastan.)

Benchmark analyst Mark Palmer on Friday elevated The price target of the company for MSTR to $ 705, an increase of 85% compared to the current share price.

A number of smaller Nasdaq-listed companies have adopted the Bitcoin Treasury plan. But some experts have warned that the crypto game cannot help every company and is inherent risky.