Why MicroStrategys Michael Saylor Believes Tech Giant Apple Should Buy $100 Billion In Bitcoin
Billionaire Michael Saylor famously pioneered large-scale corporate acquisitions of Bitcoin (BTC), utilizing borrowed money to turn his publicly traded software intelligence MicroStrategy into one of the worlds largest holders of the bellwether cryptocurrency.
Now, the outspoken Bitcoin evangelist is urging American multinational corporation Apple to consider acquiring $100 billion worth of Bitcoin instead of its record $100 billion-plus stock buyback plan.
Can Apple Really Buy Bitcoin?
Speaking during a recent interview on the Markets with Madison podcast hosted by NZ Herald journalist Madison Reidy, MicroStrategys Executive Chairman Michael Saylor suggested that tech behemoth Apple should add $100 billion in Bitcoin to its portfolio.
Buy a $100 billion of Bitcoin. It will go to $500 billion. Youll have a $500 billion business growing 20% a year. You will make $100 billion in investment gains a year, Saylor posited. Your investors will look at it, and theyll add a trillion or two trillion dollars to your market cap, and now the company will be valued 60% based upon the operating business, 40% based on the balance sheet.
Whether Apple jumps on the Bitcoin bandwagon remains to be seen. Suffice it to say that the implications of such a massive purchase by the mega tech company would be profound, as it would further fortify Bitcoins status as a mainstream asset. Moreover, it would boost institutional adoption of the alpha crypto.
Saylor emphasized that MicroStrategy is taking full advantage of the digital revolution by purchasing Bitcoin. Notably, the company is the largest corporate reserve holder of Bitcoin. MicroStrategy now holds 252,200 BTC currently valued at about $17 billion.
Michael Saylors Successful Bitcoin Strategy
MicroStrategy first purchased Bitcoin in 2020. At the time, the companys former CEO and now-chairman, Michael Saylor, insisted that the strategy was the best way to preserve wealth and accrue returns for shareholders.
The firm now pitches itself as a Bitcoin development company, and investors purchase equity in the software company to gain exposure to the worlds largest digital coin by market cap.
Skeptics took aim at Saylors aggressive Bitcoin accumulation strategy when prices crashed in 2022, putting his companys stockpile underwater. No one is laughing now, given MicroStrategys BTC holdings are now worth billions more than the company paid.
Saylor remains so bullish on Bitcoin that he believes each coin will be worth $13 million in the next 21 years.
Text source: ZyCrypto
