Bloomberg re-wrote the text about Microstrategy, a company that paved the way for entities that want to invest in Bitcoin (BTC). In an interview with the portal Michael Saylor, who is the head of the company, explained why in his opinion it is worth buying cryptocurrencies.
Saylor: are we crazy?
Apparently, investors are still wondering about the sense of Microstrategy’s strategy.
– People are still not sure: are we crazy or not? Saylor said. – The only way to gain economic security is to invest in scarce assets that will not be degraded by currency expansion. It is about the environment that led us to decide that we should treat Bitcoin as a treasury reserve asset. He explained.
Saylor likened Bitcoin to a bank, but this was mocked by Marc Lichtenfeld, chief income strategist at the Oxford Club. An analyst in Bloomberg stated that the BTC rate is too volatile to consider a cryptocurrency a safe asset.
– When you put money in the bank, its value does not increase or decrease by 10%. daily – He said.
However, Saylor ignores concerns about Bitcoin’s volatility. He also admitted that he had just invested money in digital assets. Cryptocurrency critics just don’t understand their ideas.
– If you went back 10 years, how many people would agree that Facebook, Google, Apple and Amazon would own the world? – He was asking.
BTC will be higher
He also added that as the head of the company, he would now even rather indebted himself heavily for future profits than save to buy Bitcoin in five years. Then, he believes, the cryptocurrency will be much more expensive.
His words coincide with his actions. In February, his company raised another $ 1.05 billion in a bond sale offer. The initiative was to buy Bitcoins. And in fact, on March 5, the company announced further purchases. Saylor tweeted on Friday that Microstrategy bought another 262 Bitcoins for $ 15 million. We wrote about it here.
Microstrategy bought an additional approximately 262 Bitcoins for approximately $ 15 million, with an average price of approximately $ 57,146 for Bitcoin
– wrote Saylor on Twitter.
MicroStrategy has purchased an additional ~ 262 bitcoins for ~ $ 15.0 million in cash at an average price of ~ $ 57,146 per #bitcoin. As of 3/12/2021, in #hodl ~ 91,326 bitcoins acquired for ~ $ 2.211 billion at an average price of ~ $ 24,214 per bitcoin. $ MSTRhttps://t.co/QIQP30rv2q
– Michael Saylor (@michael_saylor) March 12, 2021