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Michael Saylor is not just a Bitcoin maximalist: ‘There’s a place for everybody’

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MicroStrategy CEO Michael Saylor believes that Ethereum is good for certain uses, and Bitcoin is 50 times more attractive for investment than gold. Saylor actively speaks about the prospects of the crypto market and gives interviews to the largest American media.

At the same time, earlier Sailor rarely talked about other cryptocurrencies besides Bitcoin. However, during the recent Fast Money program on CNBC, Saylor stated that Ethereum has a place in the cryptocurrency ecosystem.

According to him, Ethereum is a “digital application” that “dematerializes JPMorgan, banking institutions and any exchanges”.

“All these things have a place if they are understood correctly”, Saylor summed up.

However, he suggested that MicroStrategy will not take steps to buy Ethereum or any other crypto assets in the near future.

Saylor also drew attention to fiat-backed stablecoins. Such instruments are becoming capital markets for cyberspace.

Bitcoin is better than gold?

Saylor described investing in Bitcoin as much more attractive than investing in gold:

“In the last 12 months, everyone has been expecting inflation and I think we are seeing it now. I think that investors are seeing a 330% rise in Bitcoin, while gold is up 7%. Therefore, Bitcoin is 50 times better than gold as an asset to hedge inflation. You yourself can see how Paul Tudor Jones and other investors are increasing their investments in Bitcoin”.

Answering the question why the developer of analytical software for business continues to buy Bitcoin, he noted that this has become one of the company’s strategies.

MicroStrategy is the largest public BTC holder

MicroStrategy remains the largest publicly traded Bitcoin holder. According to Bitcoin Treasuries, the firm owns 92,079 BTC, which is valued at nearly $ 3.7 billion at the time of writing. The company began buying Bitcoin in the summer of 2020. In addition, Saylor’s team will maintain the cumulative rate, despite the recent drop in Bitcoin. Sailor said MicroStrategy will continue to list shares to buy cryptocurrency with the funds raised.

“MicroStrategy is the first company to hold a Dutch auction or buy back shares to buy Bitcoin. We were the first to offer convertible debt for the purchase of cryptocurrency. Last week we became the first firm to offer senior secured debt for this purpose”, Saylor said.

Saylor talks about the recent sale of $ 500 million of bonds and plans to sell its own shares for $ 1 billion, the proceeds from which will go to increase the stock of Bitcoins.

According to him, the purchase of Bitcoin increased the strength of the MicroStrategy brand “100 times”, the previous quarter was the best for the main business over the past decade – software sales grew by 10%.

Even if the stock of the company came to be perceived as analogous to ETF based on digital gold, Saylor believes that the stock of the company has undeniable advantages. First, MicroStrategy can convert cash flow from software sales into cryptocurrency. Secondly, it has the ability to attract debt financing.

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