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Yahoo Finance Plus ‘I Didn’t Buy It to Sell It. Ever.’ MicroStrategy’s Michael Saylor on His $425M Bitcoin Bet
The CEO of publicly traded MicroStrategy (MSTR) shares why he started to feel like he was “sitting on a 500-lb block of ice” and how he came to bitcoin as a solution.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Related: First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
MicroStrategy made waves when it announced in early August it was moving $500,000,000 in treasury reserves out of cash. At least $250 million were to be moved into bitcoin.
Earlier this week, the company announced its final bitcoin purchases totaled $425 million.
In this conversation with NLW, MicroStrategy CEO Michael Saylor explains:
Why he’s always treated the company with a long time horizon
Why the asset inflation rate is the real inflation rate
How he became convinced that bitcoin is the best treasury asset in the world
Why Michael believes some other companies will follow suit, but better do so quick
Why the intensity of maximalists is actually part of the reason he grew conviction around the asset
Why he would buy every bitcoin if he could
See also: The Great Monetary Inflation: Paul Tudor Jones’ Complete Case for Bitcoin
Related: Bitcoin Down as Stocks Fall Over European Coronavirus Fears
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
