Bitcoin's (CRYPTO: BTC) value has reached an unprecedented milestone, crossing the $100,000 mark. This has prompted Michael Saylor, executive chairman of MicroStrategy Inc. (NASDAQ:MSTR), to reiterate his bullish stance on the cryptocurrency.
What Happened: Saylor emphasized the simplicity of investing in Bitcoin, discussing the cryptocurrency's ascent and MicroStrategy's ongoing investment strategy in an interview with Yahoo Finance.
Saylor stated, "Every day for the past four years, I've said buy Bitcoin, don't sell the Bitcoin."
He explained his straightforward approach, "Just keep Buying Bitcoin with your spare capital. It's going to appreciate against the dollar forever."
He advised considering Bitcoin as a long-term asset, suggesting that investors should average their Bitcoin purchase price quarterly.
Saylor believes Bitcoin should be part of a long-term portfolio, recommending that funds not needed for four to ten years be invested in the cryptocurrency. He noted that MicroStrategy has generated significant shareholder value by holding Bitcoin, asserting that understanding the applications is unnecessary to benefit from its potential.
Why It Matters: The recent surge in Bitcoin's value to $100,000 marks a pivotal moment for the cryptocurrency market. On December 4, Bitcoin crossed the $100,000 barrier, a milestone that was celebrated by the cryptocurrency community. Saylor even suggested a celebratory event to mark this achievement.
He has also been vocal about Bitcoin's potential as a "global capital." In a recent interview, he predicted that Bitcoin could reach $13 million per coin by 2045, emphasizing its transformative impact on global wealth storage and transfer.
Earlier, Saylor had also pitched Bitcoin's potential to boost Microsoft Corp.'s valuation by nearly $5 trillion, highlighting its status as a high-performing uncorrelated asset.
Price Action: At the time of writing, Bitcoin was trading at $99,308, up 1.7% in the last 24 hours, according to Benzinga Pro data.
MicroStrategy stock closed at $395.01 on Friday, up 2.2% for the day. Year-to-date, the stock has gained a whopping 476%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Michael Saylor / MicroStrategy