Bitcoin (BTC-USD) prices have hit new highs in 2024 thanks, in part, to the launch of spot bitcoin ETFs. It's not a surprise to MicroStrategy Executive Chairman Michael Saylor, a longtime bitcoin bull, who calls the cryptocurrency "the best investment asset."
MicroStrategy (MSTR) recently increased its bitcoin holdings by 12,000, which Saylor says the company will continue doing. When asked if MicroStrategy will use some of its bitcoin holdings to return money to shareholders or make an acquisition, Saylor was clear, "we believe that the highest, best use of capital is to buy bitcoin and hold the bitcoin" adding that "bitcoin is the winner" compared to other assets.
Overall, Saylor says the use case of bitcoin is "capital preservation." Saylor compares investing in bitcoin to buying a home in a city everyone wants to move to, saying bitcoin "is the apex property of the human race."
Watch the video above to hear what Saylor tells Yahoo Finance's Julie Hyman about investing in MicroStrategy versus investing in a spot bitcoin ETF.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich.
Key video moments:
00:00:57 Why bitcoin is "the best investment asset"
00:01:18 Saylor explains why buying bitcoin is like buying property
00:05:16 Will MicroStrategy ever sell its bitcoin?
00:06:20 Investing in MicroStrategy versus a spot bitcoin ETF
#bitcoin #crypto #youtube

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