Michael Saylor, the founder of MicroStrategy, shared his plans for the company’s Bitcoin position in an interview with CNBC.
Speaking in an interview with Morgan Brennan on CNBC, Saylor stated that the software business, which has seen significant growth in the past quarter, is a source of cash to finance its debts and acquire more Bitcoin.
Saylor Continues to Support Bitcoin
Commenting on the company’s losses in more than 146,000 BTC units, Saylor stated that the most important way to benefit from the popularity of Bitcoin is to hold the asset and endure the fluctuation in price.
The MicroStrategy founder added that Bitcoin is a long-term HODLer and all its stakeholders are in line with this interest in Bitcoin. MicroStrategy is today the largest publicly traded company with the highest BTC holdings on Wall Street after its recent acquisition. Since the company started buying BTC, it has only sold once, reiterating its belief in the future of cryptocurrency.
According to Michael Saylor, the global adoption of Bitcoin is due to the global loss of trust in fiat currencies among countries. However, Saylor believes interest around other competing assets, such as traditional banking and equities, has also waned over time.
Also addressing the reasons why Bitcoin has gained momentum lately, Saylor reiterated the fear of inflation as a key trigger that helped Bitcoin grow. Specifically, he said that Bitcoin is not a devaluation-prone cash derivative, but instead has its own digital scarcity.
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