Michael Saylor likens Bitcoin to an asset you never part with

Bitcoin has the potential to become the asset of the future, one that will be owned by everyone—from small investors to large technology companies and governments. This view was expressed in an interview with Bloomberg TV by MicroStrategy CEO Michael Saylor.

The executive noted that for his company the bet on the leading cryptocurrency has embodied a ‘strategy with the greatest growth potential and the lowest risk’.

“For some, diversification is buying other cryptocurrencies or stocks. For us, Bitcoin is the same diversification. We see a future in which digital gold becomes the foundation of technological innovations at Apple, Amazon and Facebook and will take a place on the balance sheets of corporations, cities, states and governments.”, — he said.

Saylor noted that the decentralized nature of Bitcoin will allow tech giants to combat cybersecurity and spam. The Lightning Network will be able to guarantee creditworthiness and trust, he added.

“Bitcoin is akin to a gaming ‘skin’ rather than personal data for all participants in cyberspace. Killer-app is cybersecurity, integrated into an international network of trust. [Jack] Dorsey understands this.”, he said.

During the interview, MicroStrategy’s CEO indicated that his views on Bitcoin extend beyond the ten-year outlook of the firm he leads.

“People see digital gold as a trading instrument, but in reality it is an exit strategy. The first cryptocurrency represents a form of wealth preservation free from government control. The average Twitter user believes that Bitcoin will live for 3,950 years (the sum of the chosen number of years multiplied by the share of responses). We think digital gold will become ‘an asset of the future’”, — he said.

The expected life of a:
* Company is 18 years.
* Building is 100 years.
* #Bitcoin is 3950 years.
Invest in things that are built to last. pic.twitter.com/eGXOsGf7M6

— Michael Saylor (@michael_saylor) July 26, 2021

The MicroStrategy chief added that the leading cryptocurrency also lends itself to trading. He recalled the exchange debut of Robinhood and urged the platform’s leadership to focus on supporting this new class of assets. In his view, Bitcoin will remain the epicentre of “traffic and market excitement”.

In October 2020, Michael Saylor stated that plans to store digital gold for 100 years.

In the second quarter, MicroStrategy stated its commitment to Bitcoin, despite a loss-making quarter.

As of 30 June, the 105,085 BTC on the balance sheet, valued under GAAP at $2.05 billion, had a cumulative negative revaluation of $689.6 million (for the second quarter — $424.8 million).

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