MicroStrategy CEO predicts that Bitcoin is ‘going up forever’

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The price of Bitcoin has more than doubled in 2021.

But according to MicroStrategy CEO Michael Saylor, there are still many advantages ahead.

"Our point of view is [Bitcoin will] to be volatile because it is connected to the whole crypto market and it is new, but it will keep going up forever, "Saylor told CNBC earlier this month.

Saylor continues to bet on his company's money. In the third quarter, MicroStrategy bought 9,000 bitcoins, bringing its total bitcoin count to 114,042. At current price, that stash is worth about $ 7.4 billion.

So far this year, Bitcoin is up 128%, while MicroStrategy shares are up 103%.

Of course, MicroStrategy is not the only company that has bitcoins on its balance sheet.

Here's a look at three other companies that have loaded up on crypto as well.

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Tesla (TSLA)

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This is the most obvious. When the electric vehicle giant revealed that it had amassed more than $ 1.5 billion in Bitcoin in February, the news sent the cryptocurrency skyrocketing.

In July, CEO Elon Musk tweeted that the company owned "about" 42,000 bitcoins.

It's certainly a hefty gamble, but nothing too significant relative to the size of Tesla.

Thanks to a more than 10-fold increase in its share price since the beginning of 2020, Tesla's market capitalization has passed the $ 1 trillion mark.

As you would expect from that type of rally, Tesla's business is growing rapidly.

In the third quarter, revenue totaled $ 13.76 billion, representing a 57 percent year-over-year increase. Meanwhile, net income reached $ 1.62 billion, 389 percent more than in the same period last year.

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Looking ahead, the electric vehicle maker expects to achieve "an average annual growth of 50 percent in vehicle deliveries" over a multi-year time horizon.

To be sure, Tesla is currently trading at more than $ 1,100 a share. But you can get a piece of the company using a free stock trading app like Wealthsimple that allows you to buy fractions of shares with all the money you are willing to spend.

Square (SQ)

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Square's co-founder and CEO Jack Dorsey has long been a Bitcoin advocate.

In fact, your hopes for cryptocurrencies extend beyond your financial capabilities.

"My hope is that it creates world peace or helps create world peace," Dorsey said during a "B World" webinar in July.

Square owns 8,027 bitcoins, worth about $ 531 million today.

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The digital payments technologist's stock has traded sideways for most of 2021, but the business itself has shown a lot of improvement.

In the third quarter, gross profit grew 43 percent year on year to $ 1.13 billion, while revenue increased 27 percent to $ 3.84 billion.

During the quarter, Square also announced two new Bitcoin initiatives: a consumer Bitcoin hardware wallet and a Bitcoin mining system.

"Both are focused on helping Bitcoin reach a majority audience and at the same time strengthening the network and the ecosystem," Dorsey said on the conference call with analysts.

Marathon Digital Holdings (MARA)

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With a market capitalization of approximately $ 7.5 billion, Marathon Digital is substantially smaller than Square and Tesla. But Bitcoin investors shouldn't ignore it.

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Marathon is a cryptocurrency miner. To date, its mining fleet has produced approximately 2,516 self-mined bitcoins.

While some Bitcoin miners might be tempted to sell their coins amid this crypto rally, Marathon is simply hoarding them, an act known as holding on to life, or "HODL," to crypto enthusiasts.

In fact, the company has not sold bitcoins since October 2020. It even bought 4,812.66 bitcoins in January 2021 at an average price of $ 31,168 per coin.

As a result of continued accumulation, Marathon has around 7,453 bitcoins today, a stake worth more than $ 490 million.

Unsurprisingly, stocks have done extremely well amid the current cryptocurrency boom. So far this year, Marathon shares are up a staggering 591 percent.

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Bitcoin or Banksy?

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You can always buy Bitcoin directly.

Today, many exchanges charge up to 4 percent in commissions just to buy and sell cryptocurrencies. But some investment apps like Weathsimple charge much less and allow you to get started. with only $ 1 .

Of course, if you want to invest in something that has little correlation with the ups and downs of the cryptocurrency market, consider a real but overlooked asset like fine art .

Contemporary artworks have already surpassed the S&P 500 by 174 percent in the past 25 years, according to the Citi Global Art Market chart.

Investing in art from artists like Banksy and Andy Warhol used to be an option only for the ultra-wealthy.

But with a new investment platform You can also invest in iconic works of art, like Jeff Bezos and Bill Gates do.

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