[ad_1]
Bitcoin (BTC-USD) price has hit a new high in 2024, thanks in part to the launch of the Spot Bitcoin ETF. This comes as no surprise to Michael Saylor, executive chairman of MicroStrategy, a longtime Bitcoin bull who calls the cryptocurrency “the best investment asset.”
MicroStrategy (MSTR) recently increased its Bitcoin holdings by 12,000, and Saylor says it will continue to do so. When asked if MicroStrategy would use some of its Bitcoin holdings to return money to shareholders or make acquisitions, Saylor clarified, “The highest and best use of capital is to buy Bitcoin and buy Bitcoin. “Bitcoin is a winner” compared to other assets.
Overall, Saylor said the use case for Bitcoin is “capital preservation.” Saylor compared investing in Bitcoin to buying a house in a city that everyone wants to move to, saying that Bitcoin is “the crown jewel of humanity.”
Watch the video above to hear what Saylor told Yahoo Finance’s Julie Hyman about investing in MicroStrategy and spot Bitcoin ETFs.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Stephanie Mikulich.
Important video moments:
00:00:57 Why Bitcoin is the “best investment asset”
00:01:18 Saylor explains why buying Bitcoin is like buying real estate
00:05:16 Will MicroStrategy ever sell Bitcoin?
00:06:20 Investing in Spot Bitcoin ETFs with MicroStrategy
[ad_2]
Source link
