The decision to adopt Bitcoin as a reserve asset was justified, and Bitcoin is expected to prove its reliability in time, said former MicroStrategy chief Michael Saylor in an interview with Stansberry Research.
«After adopting the strategy, we knew we would lose 20% of the purchasing power of our reserves each year if we kept them in a bank account. We could suffer […], but we boarded the lifeboat of the first cryptocurrency with the understanding that we would be tossed in the ocean, but we would not sink and would reassess this step over time», — Saylor said.
The Bitcoin maximalist said that, two years after the the first investment of $250 million, the asset has outperformed its peers.
«The first cryptocurrency rose 101%, the S&P 500 — 23%, the Nasdaq — 15%. Bonds fell 12%, gold fell 15%, silver fell 18%. The only instrument that showed the best dynamics was MicroStrategy stock (up 166%)», — he explained.
According to Saylor, cryptocurrency volatility will affect only short-term investors and public companies, and Bitcoin is not suitable for everyone. Those who bought the coin in the last three to six months are in the red, facing the consequences of the tightening policy of the tightening policy ФРС and Terra’s collapse.
«Investing should be for a term of no less than four years. Ideally, it is about passing wealth from generation to generation. The metric that confirms this is the four-year moving average» — he explained.
As of June 30, 2022, MicroStrategy owned 129,698 BTC (nearly $4 billion at the time of writing).
Earlier in August, Saylor stepped down as CEO of the company, while remaining chairman of the board.
Previously, he repeatedly called the first cryptocurrency the most reliable thing in an unstable world and a global reserve asset.
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