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Michael Saylor compared Bitcoin New York City and its economy have been dubbed “Cyber Manhattan” after cryptocurrency prices reached new records on Monday.
“We will always continue to be a top buy, every day is a good day to buy Bitcoin,” said the founder and chairman of Bitcoin.com. micro strategy Said on CNBC”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 guy who bought Manhattan before you, but investing in the financial capital of the free world is always a good investment.”
Saylor’s comments come before MicroStrategy got involved Nasdaq 100 On 23 December. This will also make Bitcoin proxies popular Invesco QQQ Trust ETFWhich tracks Nasdaq-100.
MicroStrategy shares on Monday jumped more than 5%Bitcoin reached all-time high According to Coin Metrics, worth $107,162.64.
MicroStrategy has been adding Bitcoin to its balance sheet since 2020 and now issues convertible notes to leverage its purchases. After the US presidential elections, it started increasing its purchases. On Monday, Saylor announced that the company had purchased another 15,350 BTC, bringing its total Bitcoin holdings to 439,000, worth about $46 billion.
Saylor responded to detractors who call MicroStrategy’s Bitcoin acquisition strategy a Ponzi scheme.
“Like developers in Manhattan, every time the value of real estate goes up, they issue more debt to develop more real estate,” he said. “That’s why your buildings are so tall in New York City, it’s been going on for 350 years. I’d call it the economy.”
