Bitcoin is set to last forever, according to Michael Saylor.
Microstrategy’s CEO spoke about it on CNBC‘s Fast Money show.
At the beginning of the interview, Michael Saylor stated:
“Bitcoin is digital property on an open monetary network, and that’s pretty profound because it’s going to spread to billions of people around the planet. It’s digital gold on a big tech network”.
He went on to talk about Microstrategy’s investment strategies to buy bitcoin, including selling shares for $1 billion to be used to buy even more bitcoin. According to him, this strategy also appeals to investors because, as he explains:
“The bitcoin business is driving shareholder returns, I think the employees and shareholders are happy”.
“I think investors are seeing that bitcoin is up 330% and gold is up 7% in that period, so bitcoin is outperforming gold as an inflation hedge by a factor of 50. So you are seeing Paul Tudor Jones and the other early Bitcoin believers thinking: ‘maybe it’s time for me to double or triple my allocation’. Between you and me: I’m surprised they’re not increasing their allocation by a factor of ten because bitcoin is 50 times better”.
Michael Saylor: Bitcoin is here to stay, but so is Ethereum
Getting into the specifics of the cryptocurrency sector, Michael Saylor shows appreciation not only for Bitcoin.
Indeed, according to him, the market is vast and has something for everyone, from stablecoins like Tether to the developments of Ethereum. But of Bitcoin, he says:
“Bitcoin is the highest, most dominant digital property network. (…) so bitcoin is meant to last forever, high integrity, very durable”.
“Ethereum is trying to dematerialize exchanges and the finance establishment. I think that as the market starts to understand these things, there’s a place for everybody.”
Ultimately, Michael Saylor’s vision for Bitcoin’s future remains rosy.
It cannot be otherwise considering that Microstrategy is practically a sort of majority shareholder in bitcoin. It has about 92,000 BTC in its portfolio. At the current price, they correspond to $3.6 billion. And they don’t intend to stop, as evidenced by further buying strategies also exposed to CNBC.