Michael Saylor Says Bitcoin is the Future of Property, Remains “Very Bullish” on BTC

Divya  |  Aug 3, 2021

MicroStrategy CEO Michael Saylor has once again endorsed Bitcoin (BTC) as the “future of property”. In an interview with Bloomberg, the longstanding proponent of flagship crypto said that his company doesn’t treat Bitcoin as a “trading strategy” and that there’s no reason for not holding the asset 100 years from now. 

Saylor also firmly defended MicroStrategy’s long-term BTC investment goals while predicting that millions of people in the future would hold the currency on their mobile phones. 

No Reason to Not Hold Bitcoin 100 Years from Now: Michael Saylor

Investors and market watchers have raised their eyebrows in response to MicroStrategy’s debt-financed Bitcoin accumulations recently. However, Saylor told Bloomberg TV that the company had acted intelligently while putting together its borrowed capital. He indicated that no other public company had MicroStrategy’s Bitcoin holdings and the ability to raise debt and buy more BTC with it. 

He added that by holding Bitcoin, his company had already diversified its investment portfolio since the currency features on thebalance 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,” Saylor noted.

When he was quizzed further about the asset’s role in tech innovation, Saylor said that Bitcoin could evolve into a “trust network” for Twitter, Facebook, Instagram, and YouTube that have issues with cybersecurity and spam. To address these issues, Saylor suggested integration with Bitcoin -- and particularly the Lightning Network:

“Bitcoin is the solution to cybersecurity at Facebook, Twitter, and Google. If you wanted to improve the quality of the user experience, then you need to have skin in the game. And bitcoin provides skin in the game for all of the interactors in the cyber environment. Dorsey understands that. The killer app is cybersecurity integrated into an international trust network.”

Saylor’s Long Term projections on BTC Holdings

In response to being probed about MicroStrategy’s plans of selling some of its Bitcoin, Saylor asserted that the company placed a long-term bet on the asset. He likened BTC to a “nonsovereign store of value” that he would want to hold forever. He stated:

“People joke that Bitcoin isn’t really a trading strategy, it’s an exit strategy. 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.”

In the meantime, BTC has to cater to the needs of retail investors, and Saylor acknowledges that a significant share of interest in cryptos comes from this group. He cited Crypto.com’s data that revealed the number of crypto users in the world had doubled from 100 million in January to 221 million this June, with 2 million Bitcoin users being added to this tally each week. Saylor also commented on Robinhood’s ongoing push to extend its crypto services and noted that it made “total sense” for the platform. 

 

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