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Strategy Founder Michael Saylor and CEO Phong Le Make Important Statements About Bitcoin (BTC)
Strategy, the largest institutional investor in Bitcoin, continues to pursue its BTC acquisition strategy. The company remains committed to weekly purchases, maintaining confidence in Bitcoin’s long-term appreciation.
Speaking to CNBC, Strategy founder Michael Saylor stated that Bitcoin had fallen from a peak near $125,000 to approximately $60,000, where it found strong support and formed a bottom.
Saylor also said that Bitcoin has entered a “spring warming phase.”
In addition, Saylor argued that the current price level has strong support and predicted that the market would recover from here.
The well-known entrepreneur emphasized that the additional Bitcoin supply coming from miners had been fully absorbed by the market, stating: “Our company could buy all the Bitcoin mined by miners all the way until 2140.”
The Connection Between SpaceX’s IPO and Bitcoin
In addition to Saylor, Strategy CEO Phong Le also commented on Bitcoin. Le stated that the IPO of SpaceX would mean that 25% of the companies in the “Magnificent Eight” would hold Bitcoin.
In a post on X, Phong Le wrote that if Elon Musk’s SpaceX goes public, the “Magnificent Seven” will become the “Magnificent Eight.”
At present, among the largest technology companies, Tesla holds 11,509 BTC. If SpaceX also joins the NASDAQ-100 index, the number of major technology firms holding Bitcoin would rise to two.
Le added that this would also mean that 25% of the new group of eight companies would hold Bitcoin on their balance sheets.
“After the SpaceX IPO, the Mag 7 will become the Mag 8, and 25% of the Mag 8 will hold Bitcoin on their balance sheets.”
The “Magnificent Seven” refers to the seven largest US technology companies by market capitalisation: Apple, Microsoft, NVIDIA, Amazon, Alphabet, Meta, and Tesla.
See also: "US Lawmakers Propose ARMA Bill to Create a 1 Million Bitcoin Strategic Reserve"
