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MicroStrategy CEO: Bitcoin is the safest and most liquid asset in history



Nasdaq-listed merchant MicroStrategy bought another $175 million worth of bitcoin last month, after buying $250 million in bitcoin.

MicroStrategy CEO Michael Saylor was interviewed by Stansberry Research on Friday, in which he expressed concerns about the macro economy and his reasons for buying bitcoin instead of gold.

MicroStrategy’s investment in BTC has gained approximately US$3.54 billion: Jinse Finance reported that as the price of BTC rose above US$60,000, MicroStrategy’s BTC investment has doubled to US$6.7 billion. To date, MicroStrategy holds approximately 114,042 bitcoins, with a total acquisition price of $3.16 billion and an average cost price per bitcoin of $27,713 (including fees and expenses), the company owns more bitcoins than any other public company in the world There are many. In September of this year, the company's CEO Michael Saylor announced that it had purchased an additional 5,050 bitcoins in the third quarter with approximately $242.9 million in cash. Proceeds of approximately $3.54 billion have been obtained. In addition to MicroStrategy, Tesla and Square have also added Bitcoin to their balance sheets. (bitcoinmagazine) [2021/10/16 20:32:54]

He mentioned, "I didn't care much about macroeconomics in the past ten years, but when interest rates dropped from 2% to 0%, everyone began to care about macroeconomics. We will encounter the largest economic intervention in the history of the Federal Reserve. This gives I had a big shock, I started to study the money supply, I found that the money supply has increased by 7% in the past ten years, the inflation rate is not 2% but 7% to 8%, and the asset inflation rate will reach 10% or so in a few years More. When I think about an asset that loses 10% in value over three years, I picture $1.5 million being burned or melted down, and it makes me very anxious.”

MicroStrategy board remuneration is paid in Bitcoin: MicroStrategy, a US listed company, announced that it has revised the "Non-Employee Director Remuneration Agreement" on April 11. All fees for non-employee board members will no longer be paid in cash, but in Bitcoin, with the same amount in fiat currency. [2021/4/12 20:11:19]

When asked why he did not choose gold, Saylor said, "I thought about gold, and I found that the amount of gold produced by gold miners increased by 2% every year, while the number of bitcoins will never exceed 21 million. In 100 years, Bitcoin will still be a hard currency, while the output of gold is something people can control. In the long run, Bitcoin will be more 'hard' than gold."

MicroStrategy CEO: Bitcoin is the most scarce asset in the world, and it is digital gold: On February 9, MicroStrategy CEO Michael Saylor, a US-listed business software giant, stated that the most scarce asset in the world is Bitcoin, which is digital gold. In addition, Saylor also stated that gold will lose to Bitcoin in the reconfiguration, and if people buy gold instead of Bitcoin, they will lose $2 billion.

He believes that once people start thinking that what they want is a non-decentralized store of assets, they will realize that Bitcoin is better than gold, and at that point, all institutional money will flow from gold to Bitcoin. According to a document released in February, MicroStrategy holds about 71,079 bitcoins. At Monday's prices, those bitcoins were worth about $3.2 billion. [2021/2/9 19:20:37]

He believes that although the price of gold will also rise, when this happens, people will definitely produce more gold, which is determined by human instinct. When the price of something goes up, people produce more of it. Oil is an example. When the oil price rose to $100 a barrel, the amount of oil produced in the United States increased from 5 million barrels to 10 million barrels within five years, which caused an oil crisis.

Saylor emphasized, "Everything that can be produced by people, when the price is high, more will be produced. Bitcoin will not. If I invest $1 million in mining, it will not increase the number of bitcoins. It will only increase the number of bitcoins. increase the security of the network."

He also said that Bitcoin is powerful, fast, and smart, just as people are attracted to Facebook, Amazon, and Apple because they are powerful, fast, and smart, so people will be attracted to Bitcoin. Bitcoin is the safest and most liquid asset in history, and we've never had one like it.

When the host asked him to predict the price, Saylor said that he is a disciple of Buffett. When more people use Bitcoin as a value-stored asset, the price of Bitcoin will naturally rise, but he bought Bitcoin to hold it. non-speculative.

He firmly believes that "the price of Bitcoin will increase over time, and I think it will be very valuable in the future."


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