MicroStrategy Founder Michael Saylor has shared his thoughts on BlackRock’s recently released Bitcoin Whitepaper. Saylor’s remarks come after other key figures, like Bloomberg’s Senior ETF Analyst Eric Balchunas, highlighted the document.
Michael Saylor’s Endorsement of BlackRock’s Bitcoin Whitepaper
On the social platform X, Saylor expressed his support for the paper, calling Bitcoin a “unique diversifier” for investors. He praised the whitepaper for effectively explaining Bitcoin’s value and addressing common myths. Saylor, a well-known Bitcoin advocate, encouraged his followers to read the whitepaper, reinforcing his strong support for the Bitcoin ecosystem. Since 2020, his company, MicroStrategy, has been steadily increasing its Bitcoin holdings, now owning 1.17% of all Bitcoin—more than most ETFs.
Key Insights from BlackRock’s Bitcoin Whitepaper
Titled “Bitcoin: A Unique Diversifier,” BlackRock’s nine-page whitepaper offers a detailed overview of Bitcoin’s rise to a $1 trillion market value. The document highlights that Bitcoin has outperformed major asset classes in seven of the past ten years, with an annualized return close to 100%. However, it also acknowledges Bitcoin’s high volatility and risks, citing several large price drops over the years. BlackRock notes that while geopolitical, fiscal, and monetary factors will shape Bitcoin’s future, it remains a high-risk asset.
At the time of writing, Bitcoin (BTC) is priced at $63,444, up 1.08% in the last 24 hours. However, trading volume has dropped by 12.15%, showing lower investor activity.