MicroStrategy CEO Michael Sailor believes that in a decentralized marketplace, it is possible to offer cryptocurrency custody services without a banking license and a physical office.
Michael Sailor in an interview
statedthat in the next decade, most likely, custody services for storing cryptocurrencies will be in great demand.
“Investors will be able to invest money for a long time in enterprises, which are centralized, regulated organizations that meet all the requirements of the legislation that will work with bitcoin. You can make $ 100 billion by effectively depositing bitcoins with Fidelity, so why don’t you figure out how to effectively make money on these investments as well? If you invest bitcoin with Apple, it can bring you trillions of dollars.
Sailor sees himself as a crypto enthusiast and does not want to obey the demands of the financial system. He is interested in his business being decentralized. He is worried whether private cryptocurrency companies will remain or whether government depository institutions offering services related to the storage of bitcoin will take their place. In his opinion, it is those who will remain and will earn most of the money in the cryptocurrency market.
The head of MicroStrategy believes that custodians have more options than regular cryptocurrency companies. Sailor noted that government custodians are missing out on high potential profits by not offering cryptocurrency custody services to investors.
“Investors do not believe that if you do not have a bank, or you are not Apple, you do not have an office in the country, then you will not be able to provide them with custody services.”
Sailor believes that everyone should do what they really know how. This will create new big projects like Instagram or Facebook that will explode the market and capture it by 99.9%, and the rest will leave the market.
MicroStrategy has been steadily investing in bitcoin for a long time, and its policy is set for long-term storage of cryptocurrency. In August, MicroStrategy, now the largest publicly traded bitcoin holder in the US, bought 3,907 BTC for $ 177 million. In October, MicroStrategy continued to buy bitcoins. Between October 1 and October 29, the company bought another 7,002 BTC for $ 414.4 million. As a result, there were 121,044 BTC in MicroStrategy wallets by that time. In December, more than 122,000 BTC were already stored on the company’s wallets, and the management began to look for opportunities to generate additional income from their cryptocurrency reserves.
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