Michael Saylor, co-founder of MicroStrategy, defended the company's recent bitcoin purchases, arguing that those who aren't buying the largest cryptocurrency at the top are leaving money on the table.

like Reported by U. TodayThe Virginia-based business intelligence firm reported its seventh straight weekly Bitcoin buy on Monday. It has added over half a billion dollars worth of Bitcoin at an average price of nearly $107,000 per coin.

Saylor has always been vocal about his desire to buy Bitcoin at the top, dismissing the idea of ​​trying to time the market.

During an appearance on the PBD Podcast, Saylor reiterated his prediction that Bitcoin's price will eventually rise to $13 million. "all

“The BTC you don’t buy will cost you $13 million, my friend,” he said.

However, despite Saylor's track record of proving naysayers wrong, some are still shocked by the fact that MicroStrategy's recent average purchase price is so close to Bitcoin's local high. The largest cryptocurrency peaked at $108,135 on December 17 before falling to the $92,000 level. Earlier in the day, it hit an intraday low of $92,441.

Peter Schiff, a vocal critic of Bitcoin, suggested that Saylor is already running out of steam to continue supporting Bitcoin, noting that MicroStrategy recently announced its smallest buy month. “In addition, not only is this your smallest purchase, it is the first time the average purchase price has been higher than the market price on the Monday you disclosed the purchase,” he said.

Saylor is unlikely to be deterred by these criticisms, and MicroStrategy is now on track to hold a shareholder vote to increase the number of authorized Class A shares to 10.33 billion shares.