Business-software firm, MicroStrategy, is selling upto $1 Billion dollars in stocks, to invest it in Bitcoin, among other business expenses. CEO of the firm, Michael Saylor, appeared on CNBC’s Fast Money on June 15th, and gave interesting insights on how his company is utilizing cryptocurrencies to make smart business moves now and in the future.
Saylor called bitcoin the “digital gold on a big tech network” and stated that the world is just waking up to how influential cryptocurrencies are going to be in the future.
“I think in the past 12 months, we have all been waiting for inflation, and I think we are seeing it now. I think investors are seeing that bitcoin is up by 330% and gold is up 7% in that period. So, bitcoin is outperforming gold as an inflation hedge by a factor of 50. So, you are seeing Paul Tudor Jones and other early bitcoin believers thinking, ‘maybe it’s time for me to double or triple my allocation.’”
Michael Saylor is known as a “bitcoin maximalist,” because of his stance and strategy in favor of BTC. During the interview, he was asked his opinion and views on another top cryptocurrency, Ethereum. He answered by stating that in the crypto-world, there is a place for both stablecoins and Ethereum. Stablecoins have their own functions as digital currencies. On the other hand, Ethereum, as a digital application, is here to dematerialize traditional banking establishments and exchanges. However, Saylor still believes that bitcoin is meant to last forever, and has high integrity, and it will continue to be the basis of cryptocurrencies and in general the crypto-universe. Majority of people still consider BTC as a risky investment. However, Saylor concluded that the fact that MicroStrategy is investing in bitcoin and growing in this direction is making “investors and shareholders happy.’
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