{"id":7009,"date":"2021-08-02T13:49:19","date_gmt":"2021-08-02T12:49:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7009"},"modified":"2021-08-02T13:49:26","modified_gmt":"2021-08-02T12:49:26","slug":"microstrategy-chief-michael-saylor-says-bitcoin-is-an-exit-strategy","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/microstrategy-chief-michael-saylor-says-bitcoin-is-an-exit-strategy\/","title":{"rendered":"Microstrategy chief Michael Saylor says Bitcoin is an exit strategy"},"content":{"rendered":"\n
\u201cPeople joke that Bitcoin <\/a>isn\u2019t really a trading strategy, it\u2019s an exit strategy” says Microstrategy CEO Michael Saylor.<\/h5>\n\n\n\n
\"Microstrategy<\/figure>\n\n\n\n

The CEO of business intelligence firm Microstrategy Michael Saylor\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> has vehemently defended the firm's optimistic, long-term Bitcoin (BTC) position, citing the cryptocurrency's unique ability to expand into “the future of the property.”<\/p>\n\n\n\n

Saylor stated in an interview with Bloomberg TV that Microstrategy's large bet on Bitcoin, which it has financed with debt, is the “highest upside, lowest risk strategy” the company can follow.<\/p>\n\n\n\n

\u201cSome people think\u00a0diversification means buying other types of cryptocurrencies or other kinds of\u00a0equities,\u201d he explained. <\/p>\n\n\n\n

\u201cWe think that by holding Bitcoin, we\u2019re diversified. Because we can see Bitcoin on the balance sheets of cities, states, governments, companies, small [and] big investors. Ultimately Bitcoin is going to be the core to tech innovation at Apple, Amazon and Facebook, so we want to be holding the Bitcoin.\u201d<\/p><\/blockquote>\n\n\n\n

In response to his interviewer's question on how the interests of massive, centralised behemoths such as Twitter and Facebook can coexist with a decentralised network, Saylor said that Bitcoin held the key to resolving their endemic cybersecurity and spam problems.<\/p>\n\n\n\n

Integration with Bitcoin \u2013 and, more especially, the Lightning Network, which enables micropayments \u2013 may address these concerns by introducing an ecosystem that can vouch for creditworthiness and trust:<\/p>\n\n\n\n

\u201cIf you want to improve the user experience [on these tech platforms], then you need to have skin on the game. And Bitcoin provides skin in the name for all of the interactors in the cyber environment. Dorsey understands this. The killer app is cybersecurity integrated into an international trust network.\u201d<\/p><\/blockquote>\n\n\n\n

In Saylor's estimation of Bitcoin's long-term potential, a balance appears to exist between the ability of the cryptocurrency to support new web-based functions and the ability of the cryptocurrency to evolve into the property's future.<\/p>\n\n\n\n

This is the reason why Microstrategy has taken a long position in Bitcoin \u2013 for which it has controversially borrowed $2.2 billion at a blended interest rate of approximately 1.5 percent \u2013 because the firm predicts that Bitcoin, as an open property network, would be utilised by \u201cbillions of users.\u201d<\/p>\n\n\n\n

Saylor's statements suggested that his perspective is long in the true maximalist sense, despite the fact that the corporation currently uses a ten-year approach:<\/p>\n\n\n\n

\u201cPeople joke that Bitcoin isn\u2019t really a trading strategy, it\u2019s an exit strategy. What we want to hold is a form of non-sovereign store of value forever [\u2026] I took a survey: the average Twitter user thinks it\u2019s going to last 3500 years. Nobody\u2019s in a hurry with Bitcoin. We're thinking that it\u2019s the future of property.\u201d<\/p>\n\n\n\n

However, Saylor pointed out that the coin is also satisfying the demands of retail traders in the meantime, pointing out the fact that cryptocurrencies, in general, provide users of apps such as Robinhood with the unique opportunity to trade around the clock, 365 days a year, 24\/7.<\/p>\n\n\n\n

His opinion is that Robinhood<\/a> should “go all out” and increase its support for the new asset class, which “makes total sense.” Although Bitcoin is still the \u201crisk-off king of all cryptos,\u201d according to Saylor, it is also the \u201cheavyweight champion of all digital assets.\u201d<\/p>\n\n\n\n

A recent survey conducted by Crypto.com found that the number of cryptocurrency users globally has more than doubled from 100 million in January this year to 221 million this month. In spite of the fact that Bitcoin continues to attract the vast majority of users, smaller altcoins have been quietly eating away at both the market share of the veteran coin and the industry's second-most popular cryptocurrency, Ether <\/a>(ETH).<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cPeople joke that Bitcoin isn\u2019t really a trading strategy, it\u2019s an exit strategy” says Microstrategy CEO Michael Saylor. The CEO of business intelligence firm Microstrategy Michael Saylor has vehemently defended the firm’s optimistic, long-term Bitcoin (BTC) position, citing the cryptocurrency’s unique ability to expand into “the future of the property.” Saylor stated in an interview […]<\/p>\n","protected":false},"author":13,"featured_media":7012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,1876,539],"class_list":["post-7009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-michael-saylor","tag-microstrategy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-12.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7009"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7012"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}