Michael Saylor, the CEO of MicroStrategy, stated what drove his firm to secure its capital with Bitcoin instead of other assets that seem more plausible choices like gold. Michael Saylor says that he observes an avalanche of companies shifting their cash into Bitcoin across the next 12 months. Speaking at BinanceBlockchainWeek, MicroStrategy CEO Michael Saylor revealed that in February 2020, he was almost clueless about Bitcoin’s potential and may have considered the cryptocurrency as some trouble cyber digital crypto thing.
Michael Saylor considers Bitcoin as a better storehouse of wealth
At the BinanceBlockchainWeek, Michael Saylor called upon his fellow business executives to circumvent the path of financial freedom. Saylor stated that the crypto playbook propelled his three-decade-old data firm to newfound significance in less than a year. Moreover, Saylor elucidated that he recognized Bitcoin as a more valuable store of wealth than gold. When acknowledging which assets to support to reduce the potential loss of approximately 15% of shareholder value on its cash balance per year, MicroStrategy discovered that Bitcoin offered the best returns amongst the broad list of assets that the firm considered. The investments involved stocks, government debt, derivatives, real estate, and precious metals.
Moreover, when questioned if the volatility of Bitcoin was a matter, Saylor asserted that MicroStrategy’s financing plan was to possess the cryptocurrency on a long-term basis. Consequently, short-term variations were of no concern to MicroStrategy. Moreover, its purpose was not to day-trade Bitcoin but to own Bitcoin for the long-term. Saylor revealed that it must undergo some volatility in any circumstances for an asset to accomplish value. Nevertheless, not investing is even more dangerous than holding a volatile asset. Recently, MicroStrategy has around 70,470 Bitcoins, translating to a valuation of over $2 billion with Bitcoin’s current worth.
However, Saylor’s opinion about Bitcoin as the ideal hedge asset is common amongst various crypto bulls. They have employed social media to opine their views and share their predictions on future price cryptocurrency. As Bitcoin’s potential is still developing and unveiled daily, several analysts have taken it upon themselves to train others on its value.
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