MicroStrategy continues to dive into Bitcoin (BTC) with hope.com. Its CEO is stepping up to defend a Bitcoin that would establish its domination over all other assets for the next 100 years.
There is currently no alternative to Bitcoin. Even its crypto challenger has yet to prove itself.
MicroStrategy: a 100-year strategy
The CEO of Microstrategy, Michael saylor, reaffirmed in an interview with the CEO of Real Vision, Raoul Pal, that its strategy was to keep its assets by Bitcoin as long as possible.
In August 2020, Microstrategy had purchased 21,454 BTC for $ 250 million. At the current price, this investment is now valued at $ 278 million, an increase of 11% in 2 months.
Saylor indicates that this decision was taken following a consultation between the stakeholders of the firm: directors, investors, auditors and executive officers.
He underlines that the current economic context had led them to carry their beware of assets that can constitute a long-term store of value.
After considering several other possibilities over a 100-year perspective, the team concluded that Bitcoin was the only possible option.
The whale’s response to detractors
Asked about Ethereum as a possible alternative to Bitcoin, Saylor replied that the 2 assets were not yet comparable: Saylor believes that the architecture ofEthereum (ETH) is not fully functional and its sustainability has yet to be proven, especially in the face of its many centralized competitors.
Bitcoin is superior to other assets such as gold or commodities since it does not have to fear a dilution of its value: according to the estimates of Saylor, over 100 years, the dollar will lose 100% of its value and gold will lose 85%.
This interview is an obvious retort to his detractors who say he is about to liquidate his Bitcoins in the market, as soon as the potential level of profit is sufficiently high.
Watching Bitcoin’s price move day by day, the reactions of its supporters and detractors, is a bit like watching episodes of an endless soap opera – strangely it reminds me of the fires of love. Bitcoin would therefore continue to animate passions for the next 100 years, according to Michael Saylor. Will Cryptocurrencies still be around in a century to serve you the delights of cryptocurrency? Bitcoin is immortal to him.
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