Highlights
- Michael Saylor has revealed that he personally holds more than $1 billion worth of BTC
- His company MicroStrategy is know as a major corporate Bitcoin buyer
- Michael Saylor remains one of the biggest advocates of Bitcoin on Wall Street
Michael Saylor, the co-founder and Chairman of American business intelligence and software firm MicroStrategy has revealed his Bitcoin (BTC) holdings. Saylor made this revelation earlier today, confirming previous speculations regarding his personal BTC bets.
Michael Saylor and Bitcoin
While it is not surprising that Michael Saylor has Bitcoin holdings, the size of the investments comes as a shock. For context, Saylor allegedly revealed that he owns more than $1 billion in Bitcoin. To many in the industry, the majority of his focus is hinged on MicroStrategy which has continued to accumulate Bitcoin. However, it turns out that he also has his personal interest at heart as much as he has that of his business intelligence software company.
For many years, the focus rested on MicroStrategy’s Bitcoin accumulation spree. Under Michael Saylor’s leadership, the firm began to acquire BTC in 2020 just after the global Covid pandemic hit. Four years down the line, the firm has successfully acquired a total of 226,500 Bitcoin units as of July 30. Based on today’s price, this entire stash is worth around $12.7 billion. Therefore, Saylor’s personal Bitcoin holding corresponds with about 10% of MicroStrategy’s stash.
This Michael Saylor update is coming at a time when the broader digital currency ecosystem is recording intense BTC adoption. From spot Bitcoin ETF products to US political landscape, the focus on BTC is growing at a very fast pace.
Japan Exercise Caution in Approving Bitcoin ETFs
Considering how much Bitcoin has improved since the United States Securities and Exchange Commission (SEC) approved the offering, many other regions are vying for such crypto products. Shortly after the SEC gave its greenlight in January, Hong Kong and Australia have gone ahead to offer similar product in their region.
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Currently, investors in Japan are pushing for the same crypto products but their regulator has some concerns. Japan’s Financial Services Agency highlighted the need to tread with caution win reference to the approval of spot crypto products in the Asian country.
Earlier today, Commissioner of the Financial Services Agency Hideki Ito emphasized the need to recomsider before following in the footsteps of nations like the United States, Hong Kong, Australia, and the United Kingdom, which have recently given the green light to such investment products.
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