u.today
Bitcoin, the leading cryptocurrency by market capitalization, managed to reclaim the $100,000 level earlier today.
It is currently trading at $100,705 after reaching an intraday high of $101,177, according to CoinGecko data. Its market cap is approaching the $2 trillion mark once again.
During a recent interview with Alex Thorn, head of firmwide research at Galaxy, MicroStrategy co-founder rejected the idea of selling Bitcoin.
He said that the community would go "ballistic" if he decided to sell Bitcoin. "They would never trust us ever again," Saylor added.
Following its most recent purchases, MicroStrategy now holds a total of $42.5 billion worth of Bitcoin. Its average purchase price has now surpassed the $60,000 mark.
Saylor has spoken against trading Bitcoin, saying that he would not invest in a hedge fund that makes money in an opaque way:
"If you show me a hedge fund that makes a billion dollars in an opaque, way I don't want to invest a dime in you," Saylor said.
The controversial entrepreneur has added that he would rather invest a billion dollars in the way that he understands.
As reported by U.Today, Bitcoin also managed to reclaim the $100,000 last week after Federal Chair Jerome Powell said that Bitcoin was competing with gold.
During the interview, Saylor said that he agreed with Powell's recent remarks.
"You should sell your gold. Gold is gonna get demonetized," Saylor added.
The cryptocurrency has enjoyed steady buying from institutions this year. However, it is still far from surpassing gold by market cap.