MicroStrategy CEO Michael Saylor this week said that his company would hold its Bitcoin for 100 years.
In an interview with financial news outlet Real Vision, the multimillionaire boss of the business intelligence firm also said that when investing in Bitcoin, one is always worried that they are not investing enough.
Saylor, whose company this summer invested $425 million in Bitcoin, added that if you “really get” Bitcoin, investing 1% of a portfolio is not sufficient—telling viewers that he goes on buying frenzies when snapping up the cryptocurrency.
“Once you understand Bitcoin, you have anxiety about being short,” he told former hedge fund manager and Real Vision CEO, Raoul Pal. “When I’m in the market, I’m buying Bitcoin four days in a row, every minute.”
“If it’s not 100 times better than gold, it’s a million times better than gold and there’s nothing close to it."
Michael Saylor, CEO of business intelligence firm MicroStrategy, described payment company Square’s $50 million Bitcoin investment as “an extraordinary piece of news,” on the WhatBitcoinDid podcast today.
Between August 11 and September 14, Microstrategy invested $425 million into Bitcoin. Then, approximately three weeks later on October 8, 2020, Square followed suit with a smaller investment. Now, MicroStrategy’s CEO has weighed in on the latest Bitcoin bet.
Square didn’t make this investment...
Saylor’s company stands to benefit from drumming up FOMO: his huge Bitcoin holdings may increase in value if people get excited about the cryptocurrency. Saylor raves about Bitcoin almost every day on Twitter. In fact, try and find a string of three or more of Saylor’s tweets this month that aren’t about Bitcoin.
Imagine a world where everyone used something fair & equitable to settle their economic differences. #Bitcoin
Saylor and the company’s bigwigs concluded that Bitcoin was the best long-term bet, calling the asset “a cybernetic beehive protected by an encrypted energy wall.”
As Bitcoin’s price rises above $13,000, his huge purchase appears justified. However, should Bitcoin’s price crash, Saylor will look like a chump.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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