Strategy Executive Chairman Michael Saylor said bitcoin will “double or triple” the S&P 500’s returns over the next four to eight years, even after a bout of market volatility.
Saylor’s S&P 500 comparison
Speaking Tuesday on CNBC’s Squawk Box with Andrew Ross Sorkin, Saylor argued long-term holders should focus on multi-year outperformance rather than short-term swings.
He said:
“We are not going to be selling.”
Saylor also said Strategy expects to keep buying bitcoin every quarter “forever.”
Strategy’s latest buy
Strategy disclosed Monday that it bought another 1,142 BTC for about $90 million.
The purchase price averaged more than $78,000 per coin, according to the report.
That lifted Strategy’s total holdings to 714,644 BTC.
The company’s stack represents more than 3.4% of bitcoin’s fixed 21 million supply, a figure often cited in discussions about how many bitcoin exist.
Not selling, even under stress scenarios
The report noted Strategy has continued adding to its treasury even as the market value of its bitcoin has fallen below total acquisition cost following the pullback.
CEO Phong Le recently told investors the balance sheet would only face serious stress if bitcoin fell around 90% to roughly $8,000 and stayed there for five to six years.
Saylor framed bitcoin’s volatility as a feature rather than a flaw.
