Michael Saylor: Will Continue Buying Bitcoin Even If Price Hits $1 Million Per Coin
Michael Saylor, co-founder and former CEO of MicroStrategy, stated in an interview with Barstool Sports founder Dave Portnoy that he plans to continue purchasing Bitcoin as part of the company’s strategic reserve. Even if the price of Bitcoin reaches $1 million per coin, Saylor emphasized he would still be a buyer.
Saylor compared Bitcoin to the Manhattan real estate market, noting that in the 1830s and 1930s, Manhattan properties were considered “expensive.” Yet, a century later, people are still willing to pay above-market prices for Manhattan real estate. According to Saylor, the key question isn’t whether Bitcoin is expensive but whether one can hold onto it over time, as demand will persist.
He further explained that owning Bitcoin is both an economic and moral decision, as it empowers individuals with financial sovereignty. Using sports metaphors, Saylor elaborated to Portnoy that Satoshi Nakamoto created Bitcoin as a game in which everyone can win.