Bitcoin

According to Michael Saylor, there’s no reason to hold Bitcoin for 100 years

MicroStrategy’s CEO, Michael Saylor, has steadfastly defended the company’s bullish, long-term Bitcoin (BTC) position. Citing the cryptocurrency’s unique potential to evolve into “the future of the property.”

MicroStrategy’s big bet on Bitcoin, which it has turned to the debt markets to sustain. Is the “highest upside, lowest risk strategy”. The company can pursue, Saylor argued in an interview with Bloomberg TV.

“Some people think diversification means buying other types of cryptocurrencies or other kinds of equities,” he explained. “We think that by holding Bitcoin, we’re diversified. Because we can see Bitcoin on the balance 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.”

In response to his interviewer’s question about how large, centralized behemoths like Twitter and Facebook can coexist with a decentralized network. Saylor argued that Bitcoin holds the key to resolving their endemic issues with cybersecurity and spam. Integration with Bitcoin — and, in particular, the Lightning Network. Which supports micropayments — could address these issues by incorporating an ecosystem. That can vouch for creditworthiness and trust:

“If you want to improve the user experience [on these tech platforms], then you need to have skin on the game. And Bitcoin provides skin in the name for all of the interactors in the cyber environment. Dorsey understands this. The killer app is cybersecurity integrated into an international trust network.”

Saylor’s prediction for Bitcoin’s potential appears to be a good balance

Saylor’s forecast for Bitcoin’s long-term potential appears to strike a balance between its ability to support new web functions and its ability to evolve into the property’s future.

As an open property network, the firm expects that Bitcoin will be used by “billions of users,”. This is why MicroStrategy has leveraged long on Bitcoin. For which it has controversially borrowed $2.2 billion at a blended interest rate of about 1.5 percent. While the firm currently takes a 10-year perspective. Saylor’s comments suggested that his perspective is truly maximalist:

“People joke that Bitcoin isn’t really a trading strategy, it’s an exit strategy. What we want to hold is a form of non-sovereign store of value forever […] 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 property.”

In the meantime, the coin meets the needs of retail traders, according to Saylor. Who points out that cryptocurrencies. In general, provide users of apps like Robinhood with the unique ability to trade 24 hours a day, 365 days a day year. According to him, it’s “totally logical” for Robinhood to push hard and increase its support for the new asset class. Nonetheless, Saylor believes that Bitcoin, as the “risk-off king of all cryptos,” is still “where all the traffic and excitement is.”

According to a recent study by Crypto.com. The number of crypto users worldwide more than doubled from 100 million in January to 221 million in June. According to a recent study by Crypto.com. While Bitcoin continues to attract the majority of users. Smaller altcoins have slowly eroded the market share of both veteran coins. And the market’s second-most popular crypto, Ether (ETH).

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