The CEO of Micro-strategy, Michael Saylor, said he will hold his company’s Bitcoin (BTC) funds for 100 years and he has no intention of selling them.
August 11th The business intelligence company announced it bought 21,454 BTC for $ 250 million. That investment is now valued at more than $ 278 million, up 11% in two months. Since then, more bitcoin has been bought.
In a new interview with the CEO of Real vision, Raoul PalSaylor said the decision to invest $ 250 million was based on a discussion between the board of directors and the company’s investors, auditors and executives. Saylor stated:
“This is not a speculation or a hedge. It is a conscious corporate strategy to adopt the Bitcoin standard. “
Microstrategy has decided to restructure its treasury in response to recent global economic uncertainty. Finding suitable assets to provide long-term store of value.
But after considering a variety of options with a 100 year perspective, Saylor decided that Bitcoin was the only option. Taxes and fees kill almost all other assets, and those who don’t die are paralyzed because they’re controlled by a CEO, government, or country.
Bitcoin, on the other hand evolves and over time it gets stronger and fasterSaylor concluded by describing BTC as “a hive of cyber hornets protected by a wall of encrypted energy”.
He viewed Ethereum as an alternative to Bitcoin and told Pal that he was not comparing because they “still pursue functionality”. He stated that it “still needs testing” and added:
“There are centralized competitors and [Ethereum] He’s not done with functional architecture yet. “
The fact that Bitcoin is so big compared to all other cryptocurrencies is that “The market yells at you that there is a winner […] it eats the world. “
Saylor claimed Bitcoin was the best security in the world and not even comparable to gold or any other commodity. He told Pal that if you have $ 100 million in cash for 100 years you will lose 99%, and if you keep it in gold you will lose 85% at best.
Saylor described Bitcoin as a gold gain similar to gold, only better and without fear of dilution. Comparing BTC to gold as what steel is to bricks:
“Bitcoin, if it’s not a hundred times better than gold, it is a million times better than gold, and there is nothing like it.”
Saylor argued with Bitcoin: “Anyone can check whether I have Bitcoin in a second.” and yet you can “Send anywhere in the world for $ 5”. He added that it could transact $ 100 million in BTC “on a Saturday afternoon”.
Saylor described Bitcoin as a unit of currency similar to gold, just better and without fear of dilution, comparing BTC with gold as steel for bricks:
“They don’t understand the length mentality. I’m buying it for the man who will work for the man who will be hired by the man who will take my position 100 years from now.
Saylor ended the two-hour interview with that The executives closely monitor the developers in the crypto room::
“My whole board listens to what you say.”