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Michael Saylor doesn’t think the need to hold onto bitcoin for the next 100 years

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Redakcja
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4 min reading

Michael Saylor, MicroStrategy CEO believes nobody is currently rushing to get Bitcoin, “We’re thinking that it’s the future of the property.” Michael Saylor has always aggressively defended the company’s bullish, long-term Bitcoin (BTC) position due to its extraordinary energy to transform into “the future if the property.” 

Michael Saylor, MicroStrategy CEO believes nobody is currently rushing to get Bitcoin, “We’re thinking that it’s the future of the property.” Michael Saylor has always aggressively defended the company’s bullish, long-term Bitcoin (BTC) position due to its extraordinary energy to transform into “the future if the property.” 

Saylor recently had an argument about MicroStrategy’s big bet on Bitcoin, it has changed to the debt markets to sustain and is considered as the “highest upside, lowest risk strategy” the company can achieve. “Some people think diversification means buying other types of cryptocurrencies or other kinds of equities,” he said. “We think that by holding Bitcoin, we’re 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.” 

When asked about if the interests if large, centralized giant’s such as Twitter and Facebook can be brought together with a decentralized network. Saylor responded by saying the case that Bitcoin contains has the key to solving their endemic issues with cybersecurity and spam. The amalgamation with Bitcoin and most importantly the micropayment supporting lightning network could break this situation by creating an ecosystem that can stand by for creditworthiness and trust. “If 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 the interactors in the cyber environment. Dorsey understands this. The killer app is cybersecurity integrated into an international trust network.” 

This plan for Bitcoin’s long-term prospective seems to be stabilized between this capacity to support new features and attributes on the web and also to blend into the future of the property. When we consider why MicroStrategy has grasped onto Bitcoin for this long by borrowing $2.2 billion is mainly to mix an interest rate of about 1.5% all the while expecting bitcoin to be an open property network which will be used by “billions of users.” As the firm at the present takes a 10-year view, Saylor’s opinion points out that his idea is prolonged in an absolutely maximalist style. “People joke that Bitcoin isn’t really a trading strategy, it’s an exit strategy. What we want to hold is a form of non-sovereign store of value forever…I took survey: the average Twitter user thinks it’s going to last 3500 years. Nobody’s in a hurry with Bitcoin. We’re thinking that it’s the future of property.” 

 However, it seems like the coin is fulfilling the needs of retail traders, Saylor through his observation noticed that the cryptocurrencies usually offer users of apps like Robinhood the extraordinary opportunity of exchanging 24/7, 365 days a year. He thinks it “makes total sense” for Robinhood to drive hard and increase its support for the latest new asset class. Through digital assets, Bitcoin, as the “risk-off king of all the cryptos,” is, for Saylor, still “where all the traffic and excitement is.” Based on the results from recent study from Crypto.com the number of crypto users from around the world has doubled from 100 million this January to 221 million in June. Even though Bitcoins has the major share of users, smaller altcoins have slightly consumed both the veteran coin market share and the market’s second-most popular crypto, Ether (ETH). 

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