MicroStrategy CEO Michael Saylor describes Bitcoin as “an extraordinarily intact (pure) asset.” MicroStrategy CEO Michael Saylor once again talked about his strong HODL mindset, claiming he does not respect Bitcoin traders, in an October 2nd interview with Stansberry Research’s Daniela Cambone-Taub. The famous name used the following statements about the subject:
“I am not a trader. I don’t really respect them. ”
Saylor also says that Warren Buffett, CEO of Berkshire Hathaway, is pursuing an investment strategy that involves buying assets and holding them for a long time.
Why MicroStrategy Switched to Bitcoin?
As we previously reported, MicroStrategy made an extraordinary move by adopting Bitcoin as a reserve asset. Buying BTC worth $ 425 million, the company drew all the attention. The world’s largest business intelligence company initially considered gold for investment but later decided to stick to its digital version. Saylor explained that Bitcoin is an “infinitely hard asset.”
Meanwhile, if there is enough incentive, gold can be produced by humans. However, the famous name states that no investment in Bitcoin mining can generate more cryptocurrencies:
“The key is that if I put a hundred billion dollars into gold mining, I can generate more gold. If I put a hundred billion dollars into Bitcoin mining, I will no longer be able to produce Bitcoin. I’m just going to produce more security. ”
It is worth noting that Saylor is the largest shareholder in MicroStrategy, controlling 72 percent of the voting power. Speaking about how the company’s employees reacted to Saylor’s decision, he said they were “very excited” at such a progressive move:
“Our company is full of technology lovers. According to them, Bitcoin is digital gold. Just like Apple dematerializes your Camera * and Facebook dematerializes your photos and Google dematerializes your library, this can be regarded as the dematerialization of gold. So it’s really great to be near this virtual asset. ”
Dematerialization: According to ytm.gov.tr, dematerialization is the creation of records in electronic environment in a way that has the same qualifications and rights by giving up the physical printing of capital market instruments on the bill.