Add as a preferred source on GoogleMichael Saylor Expects More Bitcoin Purchases as MSCI Reviews Strategy
Saylor said Bitcoin is in the early stages of a bull market, has moved above $80,000 and could grow 20% to 30% annually over the next several years.
Strategy Executive Chairman Michael Saylor said Bitcoin (BTC) is in the early stages of a bull market and expects the cryptocurrency to return above $100,000, while MSCI reviews whether Strategy will remain in its global equity benchmark indexes.
Saylor said Bitcoin likely reached a bottom just below $60,000 and is now moving above $80,000. He also expects Bitcoin’s annual growth rate to reach 20% to 30% over the next several years.
Saylor said he expects Strategy to buy more Bitcoin during a bull market and issue additional credit-related securities to finance the purchases. The company’s approach links further Bitcoin accumulation with additional financing through securities tied to credit products.
The comments came as MSCI considers changes to index rules that could result in Strategy’s removal from its global equity benchmark indexes. MSCI is expected to announce its decision Friday, Oct. 16.
Saylor said MSCI’s current stance was disappointing and expressed hope that the index provider would reconsider.
Sonny Jang
ReporterSonny Jang reports on people and leadership in digital assets for TokenPost. Send corrections or tips to info@tokenpost.com.