Drake has spread MicroStrategy’s optimism about Bitcoin to his 146 million followers on Instagram.
The famous American rapper has once again shared Saylor’s interview on the potential of Bitcoin, a gesture that came after the prestigious crypto surpassed the $72,000 threshold.
Summary
Rapper Drake supports MicroStrategy: Bitcoin and the potential of $72,000
As anticipated, with over 146 million followers on Instagram, music superstar Drake recently shared a message about Bitcoin, coming directly from MicroStrategy’s co-founder, Michael Saylor.
The clip is taken from an interview conducted yesterday by Saylor with Andrew Ross Sorkin of CNBC.
The caption of Drake, “Michael Saylor on Bitcoin”, accompanied the sharing of the clip.
Already known as a Bitcoin enthusiast, Drake had previously shown a diamond-studded Ledger hardware wallet on his Instagram account in 2022.
During the year, the Canadian rapper earned about $381,000 in Bitcoin, betting on the Los Angeles Rams’ victory over the Cincinnati Bengals in Super Bowl LVI.
While many celebrities are turning their attention to cryptocurrency companies like FTX and Crypto.com, Drake seems to be focusing on the top digital asset by market capitalization.
“It shouldn’t be a currency,” Saylor stated in the clip. Saylor, a long-time supporter of Bitcoin, led MicroStrategy in accumulating a substantial treasury of 205,000 Bitcoin, worth about $14.6 billion.
“We are buying it to hold it for 100 years,” Saylor told CNBC on Monday, emphasizing the resilience of Bitcoin despite price fluctuations.
On Monday, Bitcoin surpassed the value of silver, reaching a new all-time high of $71,000 before experiencing a further increase.
On Tuesday, in fact, the cryptocurrency recorded a further increase of 2.75%, reaching a new peak of $72,953.
This rapid rise has been partly attributed to the approval of Bitcoin ETFs by the United States Securities and Exchange Commission earlier this year.
On the other hand, credit is given to the massive investments of companies like BlackRock, Franklin Templeton, Bitwise and VanEck, who have accumulated millions of Bitcoin.
Saylor’s Long-Term Vision on Bitcoin
In another recent interview with Julie Hyman of Yahoo Finance, Michael Saylor shared details about his company’s ambitious strategy regarding investments in Bitcoin.
Saylor has outlined his final plan and offered an in-depth look at the company’s long-term vision.
Specifically, Saylor stated the following:
“Bitcoin is the highest form of property, the most important property in the world, and it is the best investment asset. The ultimate goal is to acquire more Bitcoin. The one who gets more Bitcoin wins. There is no other ending.”
This statement summarizes MicroStrategy’s investment ethics, emphasizing the accumulation of BTC compared to traditional asset considerations.
Responding to Hyman’s questions about the “end game” for MicroStrategy’s Bitcoin holdings, Saylor drew a compelling analogy with the real estate sector in New York City. Specifically emphasizing the resilience and appreciation of value over time.
He has indeed explained:
“Let’s say that New York City in 1776 did not have an endgame, they raised capital to invest in the real estate sector of New York City at a historical high for 300 years. If you have ever spoken to a person who owned an apartment in New York City […] They put it in their will. They give it to their children.”
Saylor has firmly rejected the idea of selling BTC holdings for profit, emphasizing the historical precedent for wealth preservation through ownership.
Expanding the intrinsic value of Bitcoin, Saylor envisioned it as a “city in cyberspace”, limited to 21 million “blocks”, suggesting a potential uproar for space within this digital metropolis.
