Intro
Intro

Michael Saylor to Investors: Buy Bitcoin!

Michael Saylor, Chief Executive Officer of MicroStrategy and notorious Bitcoin bull is advising investors to put their money in Bitcoin and that the top cryptocurrency beats traditional assets like gold, stocks and bonds any day.

Speaking with the director of business development investments firm SkyBridge Capital, John Darsie, Saylor reflects on Bitcoin’s performance against other asset classes in the past 10 years. SkyBridge Capital holds around $8 billion worth of assets under management of which $1 billion in cryptocurrencies. Saylor started off by saying:

“I think that over the course of a decade, Bitcoin’s [up] 170% a year, every year for a decade. Nasdaq is [up] 19% every year for a decade and the S&P is [up] 14% every year for a decade. Gold is [down] 6 basis points a year, every year for a decade. Long bonds, 240 basis points.”

Furthermore, despite Bitcoin’s volatility it has shown to be the asset with the highest returns and lowest risk over the years, consistently moving upwards, Saylor said.

“The conclusion you come to is pretty clear. If you can stomach the volatility and the novelty of Bitcoin, you’re getting paid 10x. If you can’t stomach it, you sit in the S&P index.

The truth of the matter is, the lowest risk thing you can possibly buy right now is Bitcoin, because there’s no CEO, there’s no corporate headquarters.

The product is simple: it’s one 21-millionth of all the money in the network forever, so you’re getting away from the board of directors and the employee base and the regulatory nexus and the competition, and you already know there’s a demand for a non-sovereign store of value.”

Although Bitcoin is still facing some regulatory uncertainties, it is accepted as “digital property”, the CEO says. He then adds that the relative volatile nature of the leading cryptocurrency is actually a positive for investors who are looking to buy in at the lowest possible price.

“It’s scarce, they might say it’s a speculative store of value. But if it wasn’t speculative, it would be trading at $10 million a coin right now. The only thing that keeps it from going up by a factor of a hundred is the fact that it’s ‘speculative,’ but otherwise, it seems to me it’s a lot more risky to buy gold, it’s a lot more risky to buy a company, a stock, even a big tech monopoly.

I think that the best thing you could possibly have is the volatility that keeps all of the conventional thinkers out of the asset, because that gives you a chance to buy it cheap.”

At time of writing, Bitcoin is valued at $64,035.19 per coin according to CoinMarketCap, after it just made an all-time high two days ago.

The post Michael Saylor to Investors: Buy Bitcoin! appeared first on iGaming.org.

Go to Source
Author: Peter Siu