Saylor Compares Investing in Bitcoin to Golfing: 'Rich People Like to Buy Bitcoin'

Michael Saylor, chairman of Strategy MSTR, has likened investing in Bitcoin to playing golf. In a recent video filmed on a golf course, he sank balls into holes while wearing a business suit and emphasized that 'rich people like to buy Bitcoin'.

Saylor believes that buying Bitcoin requires discipline and composure, just as playing the strategic long game on green fairways does. He said, 'buying Bitcoin makes you rich,' and added that he needs to buy some himself.

Strategy's September report showed that it had $66 billion in Total Reserve Capital (TRC), ranking second among financial companies in the S&P 500 behind Berkshire Hathaway with $364 billion. Strategy's reserve coverage ratio reached a record 10.75x, while traditional giants such as JPMorgan Chase and Citigroup fell into negative territory due to customer deposits.

Strategy CEO Phong Le explained that the company's decisions depend 'not on the Bitcoin rate, but on the cost of capital.' He mentioned that Strategy sold about 7,000 BTC in the summer at prices ranging from $60,000 to $65,000 and then bought back 4,603 BTC in late August at $80,318 per coin for a total of $370 million.