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Michael Thaler comparison Bitcoin New York City and its economy were dubbed “cyber-Manhattan” on Monday as cryptocurrencies rose to new records.
“We will always continue to buy tops, every day is a good day to buy Bitcoin” Founder and Chairman micro strategy said on CNBC’s “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 person who bought Manhattan before you, but investing in the economic capital of Manhattan is always a good investment. .
Saylor’s comments are included in MicroStrategy Nasdaq 100 December 23rd. Invesco QQQ Trust ETFwhich tracks the Nasdaq 100 Index.
MicroStrategy shares rose more than 5% on Monday. Bitcoin rose to a new all-time high of $107,162.64, according to Coin Metrics.
MicroStrategy has been adding Bitcoin to its balance sheet since 2020 and is now issuing convertible notes to leverage its purchases. After the U.S. presidential election, it began to step up procurement. On Monday, Saylor announced that the company had purchased an additional 15,350 Bitcoins, bringing its total holdings to 439,000 Bitcoins, worth approximately $46 billion.
Saylor responded to naysayers who have called MicroStrategy’s Bitcoin acquisition strategy a Ponzi scheme.
“Like developers in Manhattan, every time property values go up, they issue more debt to develop more property,” he said. “That’s why the buildings in New York City are so tall, and it’s been going on for 350 years. I call it the economy.”
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