MicroStrategy CEO, Michael Saylor, recently aired his view on why buying flagship crypto, Bitcoin now would look like investing in today’s multi-trillion dollar tech brands 10 years ago.
In an exclusive interview with Block Journal, Saylor spoke on the key reasons his company invested $425 million in Bitcoin as a store of wealth option.
In the interview, Saylor said that Bitcoin is not only a hedge against asset inflation but also serves as the first true and possibly “dominant digital monetary network.”
Saylor goes on to liken the use of the cryptocurrency to that of other revolutionary digital service giants.
“And when I say digital monetary network I put it on the shelf next to Google being the first digital search network, YouTube being the first digital video network, Apple being the first digital mobile network, and Facebook is the first digital social network. It’s a pretty powerful thing.”
The CEO further disclosed that Bitcoin’s store-of-value properties beat those of the precious metal because the crypto asset is “harder, smarter, faster, and stronger” than physical gold.
Saylor also urged that considering Bitcoin’s 2020 yearly gains, buying now is getting in early.
“It’s got an upside that feels like buying Apple, Facebook, Google, or Amazon a decade ago. Where it could go from here is pretty interesting,” Saylor said.
What you should know
Some months ago, Saylor convinced the board of MicroStrategy to allocate nearly all of the company’s $425 million cash position to bitcoin.
MicroStrategy has made a number of headlines in recent times for its initial $250 million Bitcoin (BTC) investment.
The company later poured a subsequent $175 million into the asset – a lengthy endeavor totaling almost 100 hours of work.
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