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MicroStrategy CEO Michael Saylor continues to build his reputation as a bitcoin bull and has emerged as a leading crypto icon in the digital asset space. In a recent interview The Information, the 56-year old businessman has predicted that in the coming years, Bitcoin (BTC) will eventually reach $6 million.
Saylor's company MicroStrategy purchased a total of 122,478 bitcoins at an average price of about $29,861 per coin. At a current price of about $49,000, MicroStrategy's investment is worth about $6 billion. His personal Bitcoin holdings amount to 17,732 BTC worth $860 million at the time of writing. Having strong “diamond hands”, he never sold any of his bitcoins and does not believe they should ever be sold.
Bitcoin as a Primary Treasury Reserve Asset
The US-based business intelligence firm MicroStrategy claims to be the largest publicly traded corporate holder of bitcoin in the world and the first public company to adopt bitcoin as a primary treasury reserve asset.
The company's CEO, Michael Saylor has repeatedly said that BTC will replace gold. Earlier this month, he said “once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place.” However, he still believes that the flagship cryptocurrency is yet to reach its full potential. According to him, BTC will reach $600,000 per coin and eventually $6 million.
The present value of Bitcoin is $51,084 as per CoinMarketCap. Last month, it attained an all-time high of $69,000 per token. While the digital asset is up 74 percent since the start of the year, it is still down 33 percent from the all-time high.