Michael Saylor Of MicroStrategy Believes Holding BTC Is Less Risky Than Cash Or Even Gold
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The chief executive officer of MicroStrategy, Michael Saylor has recently spoken in an interview with Bloomberg on the 22nd of September. In the interview, he discussed numerous topics that surrounded the crypto industry and specifically said that all $400 million worth of the bitcoin reserve holdings in his company, could be liquidated at any given moment.
Even though the company acquired bitcoin in a thought out series of more than 78,000 separate off-chain transactions, Michael said that offloading them would be a much simpler operation.
Interestingly, the CEO even picked a day of the week to do it on as he said:
“We can liquidate it any day of the week, any hour of the day. If I needed to liquidate $200 million of Bitcoin, I believe I could do it on a Saturday.”
But he goes on to say that he doesn’t actually intend for the company to sell off it’s acquired bitcoin any time soon. He even estimated that the asset inflation will spike by more than 20% a year and would, therefore “erode the purchasing power”. He added that they are very confident that the leading cryptocurrency is less risky than holding cash in today’s world and further went on to say that it is less risky than gold.
All of this has changed the tide from Michael's initial opinion on bitcoin in the early 2010s. At the time, he claimed that the bitcoins days were numbered but ever since then, he has become a major advocate for cryptocurrency. Giving predictions to companies outside of his own, Michael predicted that many businesses were more than likely to get involved in cryptocurrency and could even invest in it within six months.