MicroStrategy CEO Michael Saylor evaluated Square’s $ 50 million acquisition of Bitcoin, and said that this news is pregnant with better news.
Saylor, CEO of MicroStrategy, which bought $ 250 million and then $ 125 million Bitcoin this year and created a total Bitcoin reserve of $ 425 million, participated in the podcast What Bitcoin Did. Saylor has evaluated the role of Bitcoin in the financial system and especially Square’s purchase of Bitcoin.
Making the world a better place
Square, the company of Twitter CEO Jack Dorsey, has allocated $ 50 million of its reserve to buy Bitcoin. Michael Saylor said that Square’s investment was a political move up to a certain point, and he appreciated the company’s decision.
Saylor said that fiat currencies are in a downward trend and that more than 900 million people currently living in 22 countries are directly affected by this trend. Reminding that cryptocurrencies such as Bitcoin offer an alternative to these people, Saylor gave the message that Square “is trying to make the world a better place”.
Pregnant with better news
Saylor also emphasized that Square’s entry into the market is good news for the cryptocurrency industry in general. Saylor, who said that this will have a positive effect on the crypto money industry, stated that if Square bought Bitcoin, it would be “pregnant with better news”.
Just a few hours after Saylor made this announcement, it was learned that the financial giant Stone Ridge also bought Bitcoin. Stone Ridge bought $ 115 million of Bitcoin, thus joining the institutional investors entering the cryptocurrency market.