Microstrategy CEO: The company will hold Bitcoin for 100 years

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Microstrategy CEO Michael Saylor stated that he will hold his company’s Bitcoin (BTC) for 100 years and does not intend to sell it.

On August 11, the business intelligence company announced that it had purchased 21,454 BTC for $250 million. The investment is now worth more than $278 million, an increase of 11% in two months. Since then, the company has purchased more bitcoins.

Saylor said in a new interview with Real Vision CEO Raoul Pal that the decision to invest $250 million was made after discussions between the board of directors and the company’s investors, auditors, and executives. Saylor explained:

“This is not a speculation, nor is it a hedging. The adoption of the Bitcoin standard is a strategy developed by the company after careful consideration.”

In response to the recent uncertainties in the global economy, Microstrategy decided to reorganize its capital pool and seek assets that can provide long-term storage value.

But after considering various assets with 100-year prospects, Saylor believes that Bitcoin is the only option. He concluded that taxes and fees have killed almost all other assets, and those assets that have not been killed are paralyzed by the CEO, the government or the state.

Saylor concluded that, on the other hand, Bitcoin is evolving, and over time, it becomes more and more reliable, more powerful, and faster.

He told Pal that there are no comparisons when considering Ethereum as an alternative to Bitcoin because they are “still pursuing functionality.” He explained that “Bitcoin still has to be proven” and added:

“Bitcoin has centralized competitors, and these competitors have not yet completed the functional architecture.”

In fact, compared to all other cryptocurrencies, Bitcoin is so powerful, “The market is crying, Bitcoin is the winner and is eating the whole world.”

Saylor claims that Bitcoin is the best collateral in the world, even gold or any other commodity cannot be compared with it. He told Pal that if you hold $100 million in cash for more than 100 years, you will lose 99%; if you hold gold, you will still lose as much as 85%.

Saylor described Bitcoin as having similar monetary utility to gold, but better than gold, and without worrying about depreciation-comparing Bitcoin to gold is like steel to bricks:

“If Bitcoin is not a hundred times better than gold, it is a million times better than gold. There is no better description.”

Saylor believes that with Bitcoin, “Anyone can determine the fact that I hold Bitcoin in a second” and “you can send it anywhere in the world for only 5 dollars.” He added that he could cash out $100 million in Bitcoin on “a Saturday afternoon.”

Saylor told Pal, “Many people think he can’t do it. They say: “Saylor will buy bitcoin and then sell it. He will buy bitcoin first, and then use bitcoin to buy another company. He will keep buying. Until you make a profit.’” But in reality, he would not sell these bitcoins and explained that he would hold them for a long time:

“They don’t understand the long-term concept. I bought Bitcoin for the sake of the employees of the people who will take over my work 100 years from now.

Saylor concluded the two-hour interview. He pointed out that company executives are paying close attention to developers in the crypto space:

“The entire board is listening to your discussion.”

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