news 
MicroStrategy’s Saylor Defends Buying Bitcoin at Record High
Despite criticism from some quarters, including notorious Bitcoin critic Peter Schiff, MicroStrategy CEO Michael Saylor has defended the company’s decision to continue buying Bitcoin (BTC) at record highs.
Saylor’s comments come after the release of MicroStrategy’s latest purchase data, which showed that the company had bought 1,476 BTC at an average price of around $51,856. This has led some critics to suggest that Saylor is running out of firepower to keep propping up Bitcoin prices.
However, in a statement, Saylor reiterated his stance on Bitcoin as a long-term investment opportunity. “We’re not going anywhere,” he said. “We will continue to buy Bitcoin at any price we think is reasonable because it’s a good business decision.”
Saylor’s defense of the company’s strategy comes despite the fact that MicroStrategy recently announced its smallest buy in months, which has led some to question the company’s commitment to investing in cryptocurrency.
Schiff, a vocal critic of Bitcoin and other cryptocurrencies, was among those who questioned Saylor’s approach. “Plus, not only is this your smallest buy, but the first time your average purchase price has been above the market price on the Monday you disclosed the buy,” he tweeted.
But Saylor remains undeterred, and MicroStrategy is now planning to hold a shareholder vote to increase the number of authorized Class A shares to 10.33 billion.
It’s clear that Saylor and MicroStrategy are committed to their strategy of buying Bitcoin at any price they consider reasonable. While some may question the wisdom of this approach, it’s undeniable that MicroStrategy has consistently defied expectations and proved its naysayers wrong in the past.
Will MicroStrategy continue to buy Bitcoin at record highs? Only time will tell, but one thing is certain – Michael Saylor won’t be swayed by criticism or market volatility.
Source: u.today
