Michael Saylor Doubles Down: "Don’t Be A Fool. Buy Bitcoin"

Michael Saylor, president of Strategy (formerly MicroStrategy), issues a provocative call to investors amid a crypto market correction. His message comes after a massive new purchase of bitcoins by his company, reinforcing its position as the largest institutional holder.

Michael Saylor advises buying bitcoins now

Michael Saylor addressed his followers on platform X by posting an unequivocal message: “Don’t be fooled. Buy bitcoins“.

This statement comes as bitcoin oscillated between $82,000 and $84,000, after a slight increase of 2.4% over 24 hours.

The image accompanying his message showed him dressed in a court jester’s costume, a historical figure often seen as mad, but sometimes the only one capable of advising kings and queens.

On March 31, Strategy announced the acquisition of 22,048 additional bitcoins for an approximate value of $1.92 billion. This transaction brings the company’s total holdings to 528,185 bitcoins, representing about $35.63 billion at the current price.

For Saylor, these regular purchases illustrate his unwavering belief in bitcoin as a superior store of value. With an average purchase price of $67,458 per bitcoin, Strategy is already showing unrealized gains of $7.7 billion, validating so far its controversial strategy of massive cash allocation in crypto.

Institutional adoption accelerates despite volatility

Larry Fink, CEO of BlackRock, recently caused a stir in the financial world by suggesting that bitcoin could surpass the dollar as a global benchmark. According to him, the explosive debt of the United States, whose interest is expected to exceed $952 billion by 2025, weakens the greenback’s position as a global reserve currency.

In Japan, Metaplanet is also taking inspire from Saylor’s strategy. The company has just announced the issuance of zero-coupon bonds amounting to two billion yen ($13.3 million) intended exclusively for the purchase of bitcoin.

This trend of converting corporate treasuries into bitcoin transcends borders and market uncertainties.

Despite geopolitical tensions and inflationary fears, these institutional players share a common belief: bitcoin represents a credible alternative to traditional currencies in a context of global economic instability.

Saylor’s message resonates as a challenge to the traditional consensus. As bitcoin gradually establishes itself in institutional portfolios, the founder of Strategy’s prophecy may well come true: those who bought during correction periods could reap the rewards of their boldness in the years to come.