MicroStrategy CEO Michael Saylor believes bitcoin is digital property, not digital currency, so it cannot shake the financial system.
In his interview, when asked if Bitcoin could carry risks for the US dollar, Sailor expressed doubts about this. He believes that Bitcoin is unlikely to become a currency in the United States and compared it to digital property. He joked that if the United States government could be threatened by any form of ownership, be it real estate, buildings, companies or gold, then Bitcoin would be one of them.
“Bitcoin is starting to devalue other forms of ownership. People are now thinking about whether to buy bitcoins instead of choosing between real estate investments, stocks, starting a business or gold, ”Sailor said.
He also noted that MicroStrategy is ready for bitcoin volatility, and even if its rate collapses in the short term, the company will not sell bitcoins. Sailor believes that a wait-and-see strategy during a market downturn or the spread of FUD (fear, uncertainty and doubt) can lead to success.
Sailor cited the example of former Microsoft CEO Steve Balmer, who in the past did not sell his shares when they fell. Sailor even mentioned a quote from Warren Buffet: “If you don’t want to own a stock for ten years, don’t even think about owning it for ten minutes.”
“One iPhone 12 won’t be worth anything in a hundred years, and a product that Apple sells won’t last a thousand years. As for bitcoin, it accounts for 1/21 millionth of all money in the world. And that cannot be changed, ”Sailor said.
MicroStrategy started buying bitcoins in August 2020, and now the company owns 105,085 BTC worth about $ 3.3 billion. However, Sailor noted that if in four years bitcoin falls below the rate at which it is trading today (about $ 31,500), he is ready to reconsider your strategy. Although Sailor previously stated that MicroStrategy intends to store bitcoin for 100 years.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
