A few days ago, on April 4, 2023, Michael J. Saylor announced that MicroStrategy had just made another Bitcoin purchase: 1,045 BTC at an average price of $28,016 for $29,276,720
As you can see from the Bitcoin DCA like Michael J. Saylor web page that I have been maintaining for just over two years, this was MicroStrategy's 26th BTC purchase since August 11, 2020, when Michael J. Saylor made his “Bitcoin coming out”:
As you can see, Michael J. Saylor's DCA strategy with MicroStrategy could not be more classic: he buys Bitcoin no matter what the price of Bitcoin is. He has been buying Bitcoin at all price levels since August 2020: $10K, $20K, $30K, $40K, and $50K, ...
When you fundamentally believe in the Bitcoin revolution and you understand the why of Bitcoin, why deprive yourself if you can afford it?
After all, buying Bitcoin is protecting your money from the risks of the collapse of the current monetary and financial system. That's why more and more people are turning to Bitcoin now.
When you understand the why of Bitcoin, you don't see buying BTC as a risk, but rather as a way to hedge against the risk of the current flawed and not fixable system.
As of this writing, MicroStrategy has 140,000 BTC in its treasury.
This clearly means that MicroStrategy holds 1/150th of all the Bitcoin that will be in circulation by 2140. That's pretty impressive considering that it's “only” been 2.5 years since MicroStrategy joined the Bitcoin revolution.
The 140,000 BTC held by MicroStrategy is also impressive when compared to what companies that have chosen to hold Bitcoin in their treasury hold:
MicroStrategy is in a world of its own.
The craziest thing here is that MicroStrategy's Bitcoin position is valued at $3.9B, while MicroStrategy's current market cap is “only” $3.35B.
No wonder MicroStrategy has been outperforming the stock market since Michael J. Saylor's August 2020 pick.
When Bitcoin reaches a price of $100K, as it is a matter of time in my eyes, MicroStrategy will be sitting in a cash position of $14B. Imagine if Bitcoin ever reaches the price of $1M...
That being said, some people don't seem to like the fact that Michael J. Saylor is raking in all the Bitcoin that others are making the mistake of selling to him with MicroStrategy. I've had people tell me in the last few days that having one company own so much BTC is hurting Bitcoin's decentralization.
Here's an example of a comment I've had:
So I thought it was important to respond to this type of comment that I have been receiving and seeing all over the Internet in the last few days.
I'm not going to keep you waiting any longer and I'm going to bust the myth right now: the fact that Michael J. Saylor owns 140,000 BTC with MicroStrategy, and maybe more by the time you read this article, does not hurt the decentralization of Bitcoin
The fact that a single individual owns 0.667% of the total Bitcoin supply does not change the fact that Bitcoin is a decentralized system.
Why is that? Simply because at the heart of Bitcoin is the Proof-of-Work (PoW) algorithm that makes Bitcoin superior and unique as I explain in my book “The Truth About Bitcoin
With Bitcoin's consensus algorithm, owning more BTC than someone else doesn't change anything: you have no more privilege than anyone else over how Bitcoin works, nor do you have any more rights than anyone else over the future of Bitcoin. Even if MicroStrategy owns 140,000 BTC, Michael J. Saylor is no more important than the person who owns 0.1 BTC.
All users are equal within the Bitcoin system.
It would be a different matter if Bitcoin had made the same mistake as Ethereum by switching to Proof-of-Stake (PoS) which gives more weight to Ether's biggest HODLers. At this point, you might say that Michael J. Saylor is endangering the future of the centralized censorship machine that Ethereum has become since its switch to PoS.
But with Bitcoin, no worries. That is why Bitcoin must, and will, stay with PoW as its consensus algorithm.
For the other accusation that Michael J. Saylor could do more for the adoption of Bitcoin, I find that the person who made this comment is quick to forget everything that Michael J. Saylor has already done and will do.
Michael J. Saylor has influenced many people to open their eyes to the potential of the Bitcoin revolution for both corporations and individuals. Despite the constant attacks he has received from those who would like to drive down the price of Bitcoin, he has always followed his original philosophy: Bitcoin HODLer one day, Bitcoin HODLer forever
He has participated in numerous conferences, television shows, and podcasts to help people understand the why of Bitcoin. He has never been a Sh*tcoiner taking advantage of the Bull Market to promote himself and attract attention like Elon Musk for example...
Michael J. Saylor started Saylor University where people can learn about Bitcoin or development around the Bitcoin Blockchain while getting certified. He has explained over and over again how Bitcoin is already a plan A for the unbanked people of the earth which are around 1.6B according to the latest data from the World Bank.
In short, Michael J. Saylor is a tremendous advocate for Bitcoin. He has done a lot so far and I remain confident that he will continue to do so in the future, as great things are to come.
The only risk you could credibly identify with this concentration of BTC in the hands of one company is the risk of that company causing a complete panic by selling a large amount of BTC.
But I think Michael J. Saylor has already shown us that he has no interest in doing that because he understands that what lies ahead for Bitcoin is far greater than what Bitcoin has achieved so far. For this reason, he will remain a Bitcoin HODLer of last resort.
Stay strong, Stay Bitcoin HODLers.
An excellent opportunity with Ledger
I keep reminding you that you absolutely must take possession of your Bitcoin's private keys. To help some people understand the importance of this, I even created a dedicated web page a few years ago: “Not Your Keys, Not Your Bitcoin
I also wrote an article last year comparing the hardware wallets offered by the two market leaders: LEDGER and Trezor.
If you still haven't taken the plunge, you should know that Ledger is currently running a special offer as part of its “Ledger Safe Journey Offer” campaign to help more people take possession of their private keys.
Ledger's offer is valid until April 18, 2023, and concerns the Ledger Nano X and the Ledger Nano S.
Here are the details:
Buy a Ledger Nano X and receive $30 BTC
Buy a Ledger Nano S Plus and receive $20 BTC
If you still don't have a hardware wallet or want to buy a new one, Ledger's offer allows you to accumulate for free $30 or $20 worth of Bitcoin. This is quite interesting as we should be looking to accumulate as much Bitcoin as possible.
For those interested in this great opportunity, I suggest you take advantage of it by following my affiliate link: https://shop.ledger.com/pages/safe-journey-offer?r=49fc
This will allow you to get a good deal while supporting my work. It's a win-win situation ;)
Don't take for granted the word of Bitcoiners who tell you that Bitcoin is an incredible monetary revolution, but verify it for yourself by developing the knowledge to build your truth about Bitcoin.
That's what I suggest you do in the book “The Truth About Bitcoin: Everything you need to build your truth about Bitcoin and stop trusting others without verifying
The book is available on various platforms:
On Amazon in print format: 630 pages
On Amazon in Kindle format: 543 pages
On Gumroad in PDF format: 475 pages
In P2P mode in PDF format or EPUB format with payment in BTC (-20% if you buy in Bitcoin): contact me by email at [email protected]
