In an interview with Bloomberg TV, Michael Saylor, CEO of MicroStrategy, claimed that the company’s high bet on Bitcoin, which it has resorted to the debt markets to support, is the “highest upside, lowest risk approach” company can follow.
MicroStrategy, a business analytics firm, has consistently supported the company’s optimistic, long-term Bitcoin stance, citing its unique ability to evolve into the property’s future. Saylor stated that,
Some people think diversification means buying other types of cryptocurrencies or other kinds of equities, We think that by holding Bitcoin, we’re diversified. Because we can see Bitcoin on the balance sheets of cities, states, governments, companies, small and big investors. Ultimately, Bitcoin is going to be the core to tech innovation at Apple, Amazon and Facebook, so we want to be holding the Bitcoin.
In answer to his interviewer’s question on how huge, centralized giants like Twitter and Facebook’s interests can be reconciled with a decentralized network, Saylor said that Bitcoin held the key to fixing their chronic cybersecurity and spam challenges. Integration with Bitcoin, and particularly the micropayment-supporting Lightning Network, might address these issues by adding an ecosystem that can attest to credibility and trust.
People joke that Bitcoin isn’t a trading strategy, it’s an exit strategy. What we want to hold is a form of the non-sovereign store of value forever, I took a survey: the average Twitter user thinks it’s going to last 3500 years. Nobody’s in a hurry with Bitcoin. We’re thinking that it’s the future of the property.
Related: David Rubenstein: Expect ups and downs and big fluctuations in crypto
In the meantime, the coin is serving the demands of retail traders, according to Saylor, who said that cryptocurrencies, in general, provide users of applications like Robinhood with the unique ability to trade 24 hours a day, 365 days a year.
Micheal Saylor also founded the Bitcoin Mining council in May with the assistance of the crypto mining industry’s US companies and Tesla CEO Elon Musk. The main aim of BMC is to promote transparency, share best practices, and educates the public on the benefits of Bitcoin and Bitcoin mining. Its contributing members include Argo Blockchain, Bit5ive LLC, Blackcap, Celsius Network, Frontier Mining, Galaxy Digital, Hive Blockchain, New Data Ventures LLC, Riot Blockchain, and SBI Crypto, etc.
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