The CEO of Microstrategy Michael Saylor believes that Bitcoin (BTC) is the world’s best collateral. In a recent interview with the CEO of Real Vision, Raoul Pal, Saylor explained that Microstrategy decided to hold Bitcoin for the long term. At the same time, he stated that purchasing Bitcoin was a corporate strategy rather than speculation.
Microstrategy CEO Says They Are Holding Bitcoin for the Next 100 Years
Bitcoin continues to expand and several companies are giving support to Bitcoin or even purchasing it in a strategic way. Microstrategy decided to acquire over $400 million in Bitcoin in order to “adopt the Bitcoin Standard” rather than for speculation.
According to the CEO of Microstrategy, they have decided to restructure their treasure due to the current global uncertainty, which is expected to continue in the coming months and years. Bitcoin was a great solution to provide a long-term store of value to the company and to investors.
Regarding other cryptocurrencies such as Ethereum (ETH), Saylor explained that the virtual has yet to be proven. Furthermore, he mentioned that Bitcoin is the clear winner as it is the largest cryptocurrency in the world and it has proven itself to be the most useful and adopted.
Saylor has also talked about Bitcoin compared to gold. He stated that Bitcoin is a “million times better than gold.”
On the matter, he stated:
“Bitcoin, if it is not a hundred times better than gold, it is a million times better than gold, and there is nothing close to it.”
In addition to it, Saylor mentioned that they have long-term mindsets. He stated that he decided to buy Bitcoin for the person that will work and take over his job in 100 years. Thus, there is no short-term strategy but a long-term intention to hold and support the entire Bitcoin and crypto ecosystems.
This shows companies and firms are looking at Bitcoin as an increasingly powerful asset that is changing the way in which we thought of money. Just a few days ago, PayPal announced it was adding support to Bitcoin and other cryptocurrencies. In this way, users will be able to buy and hold Bitcoin using their PayPal accounts.
After these announcements, Bitcoin was able to surge above $13,000 after several months without reaching this price level. At the time of writing this article, Bitcoin is being traded around $12,930 and it has a market valuation of $239 billion.