The CEO of Microstrategy, holder of nearly 39,000 Bitcoins, assures that he could retain his Bitcoin capital for 100 years. For Michael Saylor, cryptocurrency is the best collateral in the world.
“Bitcoin’s days are numbered. It seems that it is only a matter of time before it suffers the same fate as online gambling,” wrote the CEO of the American publisher Microstrategy in 2013.
His position is radically different today. Michael Saylor is full of praise for Bitcoin. In an interview with Real Vision, however, he insists that investing in cryptocurrency was not a personal decision.
“This is not speculation, nor is it hedging. It is a deliberate corporate strategy to adopt the Bitcoin standard,” says Saylor. The $250 million invested in August was therefore the result of a discussion between the board of directors, investors, the auditor and company executives.
Microstrategy’s objective was to restructure its cash position in the current global economic uncertainty. The publisher was therefore looking for assets offering a long-term reserve of value.
And only Bitcoin seemed to meet these expectations. Taxes and fees wipe out the value of almost all other assets,” says the CEO. And according to him, Ethereum does not offer the same guarantees as Bitcoin either.
“They are centralized competitors and they [Ethereum] are not yet done with functional architecture,” he explains. Bitcoin therefore stands out in comparison to all other cryptocurrencies, acting as a standard.
As for other investments, especially gold and raw materials, Saylor also believes that they cannot compete. Thus, Bitcoin is the best guarantee in the world in comparison.
“Bitcoin, if it’s not a hundred times better than gold, it’s a million times better than gold, and there’s nothing like it,” he concludes. But another advantage of cryptocurrency is that it’s easy to sell and the cost of such a transaction is modest.
However, this is not the prospect the boss is considering today. This is a long-term investment,” he says.