Michael Saylor, former CEO of MicroStrategy and the most dedicated bitcoin maximalist, gave an interview to CNBC. He shared his opinion on the further introduction of bitcoin. And as always he gave an optimistic forecast.
Sailor noted that two reasons contribute to the widespread adoption of bitcoin. And the main concern is inflation. The fact is that this anxiety will sooner or later lead to a loss of confidence in fiat currencies. Which, in turn, will encourage investors to seek shelter for their assets in bitcoin.
Sailor also mentioned the unfolding banking crisis. The collapse of major financial institutions such as Silvergate Bank, Signature Bank, Silicon Valley Bank, and First Republic Bank undermined investor confidence in the banking system: “Bank failure is causing people in the Western world to gradually lose faith in the banking system, and they are remembering that bitcoin is — it is a bank in cyberspace, run by incorruptible software. So the combination of this concern about inflation and the risks associated with banks is driving the adoption of bitcoin.”
Speaking about the prospect of Bitcoin, Saylor once again emphasized that MicroStrategy still believes in the potential of the first cryptocurrency. Despite the huge unrecorded losses from investments in bitcoin, the company still owns 140,000 BTC and is not going to sell them.
MicroStrategy started buying cryptocurrency in August 2020 and since then has been trying to buy on the strait every time the opportunity presents itself.
Immediately after the first purchase, Sailor explained the rationale for investing in the first cryptocurrency: “This investment reflects our conviction that Bitcoin, as the world’s most widely accepted cryptocurrency, is a reliable store of value and an attractive investment asset with a longer-term growth potential in value than holding cash. money”.
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