Michael Saylor claims the company will keep its Bitcoin for “100 years”
Microstrategy CEO Michael Saylor said that Bitcoin is “a million times better than gold” and has no intention of selling it for the next 100 years. Microstrategy CEO Michael Saylor said that he will hold his company’s Bitcoin (BTC) funds for 100 years and has no intention of selling them.
On August 11, the business intelligence company announced that it had purchased 21,454 BTC for $ 250 million. This investment is now worth more than $ 278 million, which is an 11% increase in two months, and it has bought more Bitcoin since then.
In a new interview with Real Vision CEO Raoul Pal, Saylor said the decision to invest $ 250 million was based on a discussion between his board of directors and the company’s investors, auditors and executives. Saylor explained:
“This is not speculation or hedging. It is a deliberate corporate strategy to adopt the Bitcoin standard. “
Microstrategy decided to restructure its treasury in response to the recent global economic uncertainty, seeking to explore suitable assets to provide a long-term store of value.
But after considering a variety of options with a 100-year perspective, Saylor decided that Bitcoin was the only option. Taxes and fees kill almost all other assets, he concluded, and those that do not die are paralyzed because they are controlled by a CEO, a government or a country.
Bitcoin, on the other hand, is evolving and becoming stronger and faster over time, Saylor concluded, describing BTC as a “hive of cyber hornets protected by a wall of encrypted energy.”
Looking at Ethereum as an alternative to Bitcoin, he told Pal that it was not being compared as they “still pursue functionality.” He explained that it “has yet to be tested,” adding: “There are centralized competitors and [Ethereum] is not done with the functional architecture yet.”
The fact that Bitcoin is so big, compared to all other cryptocurrencies, is that “the market is yelling at you that there is a winner, […] it is eating the world.”
Saylor claimed that Bitcoin is the best collateral in the world and doesn’t even compare to gold or any other commodity. He told Pal that if you have $ 100 million in cash for 100 years, you will lose 99%, and if you keep it in gold, you will still lose 85% at best. Saylor described Bitcoin as making monetary profits similar to gold, only better and without fear of dilution, comparing BTC to gold as what steel is to bricks:
“Bitcoin, if it is not a hundred times better than gold, it is a million times better than gold, and there is nothing like it.” With Bitcoin, Saylor argued, “anyone can inspect the fact that I own Bitcoin in a second “and yet it can be” shipped anywhere in the world for $ 5. ” He added that he could settle $ 100 million of BTC “on a Saturday afternoon.”
Saylor described Bitcoin as a monetary unit similar to gold, only better and without fear of dilution, comparing BTC to gold as what steel is to bricks:
“They don’t understand the laps mentality. I buy it for the guy who’s going to work for the guy who’s going to be hired by the guy who’s going to take over my position in 100 years.”
Saylor ended the two-hour interview by noting that his executives are closely watching developers in the crypto space: “My entire board is listening to what you guys are saying.”
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.