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Compare Michael Saylor Bitcoin to New York City and its economy on Monday as the cryptocurrency soared to new records, calling it a “cyber Manhattan.”
“We will continue to buy the top forever, every day is a good day to buy Bitcoin,” said founder and CEO Accurate strategy He said on CNBC's “Money Movers.” “I would have bought Manhattan 100 years ago, 200 years ago, every year for the last 300 years. You pay a little more than the person who bought Manhattan before you, but an investment in the economic capital of Manhattan is always a good investment.” “The free world.”
Saylor's comments come ahead of MicroStrategy's listing Nasdaq-100 On December 23. This would also put the Bitcoin proxy within the popular range Invesco QQQ Trust ETFWhich tracks the Nasdaq 100 index.
On Monday, MicroStrategy shares jumped more than 5%. Bitcoin rose to an all-time high of $107,162.64, according to Coin Metrics.
MicroStrategy has been adding bitcoin to its balance sheet since 2020 and is now issuing convertible bonds to leverage its purchases. It began to increase its purchases after the US presidential elections. On Monday, Saylor announced that the company had purchased another 15,350 bitcoins, bringing its total bitcoin holdings to 439,000 worth about $46 billion.
Saylor responded to naysayers who called MicroStrategy's strategy for acquiring bitcoin a Ponzi scheme.
“Just like developers in Manhattan, every time property values go up, they issue more debt to develop more properties,” he said. “That's why your buildings are so tall in New York City. They've been going for 350 years. I like to call it an economy.”
