MicroStrategy CEO Michael Sailor said he plans to store BTC for 100 years. He stated this in an interview with the Real Vision Finance channel.
“This is not speculation or hedge. This is a balanced strategy for the adoption of the Bitcoin standard, ”Sailor explained the decision to invest about $ 250 million in the purchase of 21,454 BTC.
MicroStrategy became the first public company to invest a portion of its capital in bitcoin. In September, the company acquired an additional 16,796 BTC for $ 175 million.
Sailor added that the investment was approved after a joint discussion by the board of directors, investors, auditors and the firm's executives.
MicroStrategy decided to rethink its free cash structure in favor of assets that are best suited for long-term storage in the face of increasing global economic uncertainty. After considering various options, Sailor came to the conclusion that Bitcoin is the only such asset.
According to the top manager, taxes, fees and inflation “kill” almost all financial instruments. Those that stay afloat lose their appeal as they are controlled by CEOs or the government.
By comparing traditional assets to Bitcoin, Sailor concluded that the latter's infrastructure evolves over time, making the first cryptocurrency "harder, stronger and faster."
"BTC is a hive of cybernetic hornets, protected by a wall of encrypted energy," - this is how Bitcoin CEO of MicroStrategy sees it.
Sailor does not consider it correct to compare Bitcoin with Ethereum, since the latter "has yet to prove its functionality."
“It has centralized competitors, and the developers of Ethereum itself have not yet completed the development of the new architecture,” he explained.
The head of MicroStrategy believes that Bitcoin is the "winner of the cryptocurrency market."
The top manager believes that BTC cannot be compared either with cash, or with gold, or with other commodity assets:
“If you have $ 100 million in cash, then within 100 years you will lose 99%. If you invest in gold, you will still lose at least 85%. With Bitcoin, everything is transparent - anyone can check in a second that I own this cryptocurrency. Its supply, unlike gold, is limited. You can send BTC for $ 5 anywhere in the world and liquidate $ 100 million one Saturday afternoon. "
The head of MicroStrategy stressed that the company's actions should not be viewed as speculation. He made it clear that these purchases are for those who will run the company after him, in 100 years.
Sailor added that the company is closely monitoring the development of the cryptocurrency market.
Recall that in September, the CEO of MicroStrategy predicted that other private companies will switch to Bitcoin in the coming months.
In October, Jack Dorsey's payment company Square announced the purchase of $ 50 million worth of bitcoins. The management company Stone Ridge Holdings Group also followed suit.
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