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'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.
Updated Sep 14, 2021, 9:58 a.m. Published Sep 18, 2020, 7:00 p.m.
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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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
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