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MicroStrategy CEO Michael Saylor recently expressed his opinion on why buying flagship cryptocurrencies Bitcoin would now appear to be investing in today’s multi-billion dollar tech brands 10 years ago.
In an exclusive interview with Block Journal, Saylor talked about the main reasons his company invested $ 425 million in Bitcoin as a wealth deposit option.
READ: One billion dollars worth of Bitcoin moved by an unknown identity
In the interview, Saylor said that Bitcoin is not only a hedge against asset inflation, but also serves as a true prime and perhaps “Dominant digital monetary network”.
Saylor continues to compare the use of cryptocurrency to that of other revolutionary giants of digital services.
READ: 98% of Bitcoin wallets in profit, hit the 2-year high
“And when I say digital money network I put it on the shelf next to Google which is the first digital search network, YouTube is the first digital video network, Apple is the first digital mobile network and Facebook is the first digital social network. pretty powerful thing. “
The CEO also revealed that Bitcoin’s store-of-value properties beat those of the precious metal because the crypto asset is “harder, smarter, faster and stronger “ of physical gold.
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Saylor also urged that considering Bitcoin’s annual earnings in 2020, the purchase is now coming soon.
“It has a positive aspect that looks like it was buying Apple, Facebook, Google or Amazon a decade ago. Where it could go from here is pretty cool.“Saylor said.
READ: How Investors Make Money From Bitcoin Without Owning Cryptocurrencies
What you should know
Nairametrics broke the news a few months ago that Saylor convinced MicroStrategy’s board to allocate nearly all of the company’s $ 425 million cash position to bitcoin.
MicroStrategy has made a number of stocks in recent times for its initial $ 250 million investment in Bitcoin (BTC).
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Later, the company invested the next $ 175 million in the asset, a long effort totaling nearly 100 hours of work.
