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Like fire: Michael Saylor’s CNBC interview goes viral
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Michael Saylor, CEO of MicroStrategy, strongly defended Bitcoin as an essential asset for companies during a recent interview with CNBC’s Sqwak Box. At a time when interest in cryptocurrencies is growing, Saylor highlighted MicroStrategy’s strategy of using Bitcoin to maximize investments. In addition to suggesting that companies, like Microsoft, should rethink their treasury policies and consider Bitcoin as a solid means of long-term appreciation.
MicroStrategy, founded in 1989, is a provider of business intelligence solutions and in recent years has been notable for its bold Bitcoin acquisitions. Recently, the company announced the acquisition of an additional 15,400 bitcoins, bringing its total holding to approximately 402,100 BTC, an investment that exceeds $23.5 billion. It is the third Bitcoin purchase that MicroStrategy has made in three, which has caught the attention of large companies like Microsoft.
On Tuesday the 3rd, Michael was invited to appear on CNBC’s financial news program Sqwak Box to comment on MicroStrategy operations. During the interview, which lasted around 10 minutes (full here), Michael also took the opportunity to share his views on the future of Bitcoin.
Saylor begins by being asked by Joe Kernen whether the increase in the average acquisition cost of Bitcoin, which jumped to US$58,000 after the last acquisition, would not be a big risk for the company. He takes the opportunity to highlight that they were made 42 acquisitions, and the increase in the average acquisition price is expected within a context in which the asset continues to rise.
Recent acquisitions draw attention
Furthermore, it highlights that one of MicroStrategy’s strategies involves issuing shares and convertible debt to finance Bitcoin acquisitions. He argues that this approach not only provides a way to capitalize on the digital asset, but also helps connect the traditional financial market with the growing cryptocurrency space.
Questioning about the public perception regarding Bitcoin, which looks at cryptocurrencies with disbelief (like air and not like gold, according to the interviewer’s own words), Saylor presents the asset’s numbers.
Michael further argued that, until the emergence of Bitcoin, people were forced to use gold or real estate as their commodities. Saylor highlighted that these assets, like U.S. Treasury bonds, underperform the S&P 500 and are less volatile.
Saylor argues that the Bitcoin is the first asset that can be used in a portfolio that not only outperforms the S&P, but also has higher volatilitywhich allows investors to place 100% of their liquid assets in it, something that is not possible with other types of securities
Michael Saylor was asked by Becky Quick about Bitcoin’s volatility during the interview. The interviewer questions whether Bitcoin’s volatility, which is an intrinsic characteristic of the asset, can be considered a problem or whether, due to these changes, Bitcoin will become more stable.
Saylor responds by stating that while Bitcoin continues to be a volatile asset, this volatility is a feature rather than a defect. He mentions that the nature of Bitcoin as a global asset, available 24/7, contributes to this volatilityallowing people to buy and sell at any time.
Like fire: Michael Saylor’s CNBC interview goes viral
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Like fire: Michael Saylor’s CNBC interview goes viral
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Like fire: Michael Saylor’s CNBC interview goes viral
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Like fire: Michael Saylor’s CNBC interview goes viral
