Michael Saylor of MicroStrategy asserts that bitcoin is a valuable investment, even during market peaks.

On Monday, Michael Saylor likened the surge of cryptocurrency to the economy of New York City, referring to it as "cyber Manhattan."

"The founder and chairman of said on CNBC's "Money Movers" that they would continue to buy the top forever, as every day is a good day to buy bitcoin. They also mentioned that they would have bought Manhattan 100 years ago, 200 years ago, and every year for the past 300 years, despite paying a little more than the previous owner, as it is always a good investment to invest in the economic capital of the free world."

The bitcoin proxy will be included in the popular index that tracks the Nasdaq-100, with Saylor's comments coming before the announcement.

On Monday, MicroStrategy's shares surged over 5%, while Bitcoin reached a new record high of $107,162.64, as reported by Coin Metrics.

Since 2020, MicroStrategy has been adding bitcoin to its balance sheet and now issues convertible notes to leverage its purchases. The company began increasing its purchases after the U.S. presidential election. On Monday, Saylor announced that MicroStrategy has purchased another 15,350 BTC, bringing its total bitcoin holdings to 439,000 worth about $46 billion.

MicroStrategy's bitcoin acquisition strategy was defended by Saylor against those who labeled it a Ponzi scheme.

""As in Manhattan, real estate developers issue more debt to develop more real estate when its value increases, resulting in tall buildings in New York City, a practice that has been ongoing for 350 years. This can be referred to as an economy," he stated."