MicroStrategy CEO Michael Saylor thinks Bitcoin is more like a digital property than a digital currency.
Is BTC a threat to the US?
He was speaking at the July 15 edition of the “Coin Stories” podcast with host Natalie Brunell. Asked if he thought Bitcoin was a threat to the US dollar, Saylor replied:
“I would call it digital property, it is a threat to property, it is particularly a threat to other forms of ownership: gold is property, real estate is property. I don't think the US government is threatened by real estate, buildings, corporations or gold. "
The comments follow up Saylor's claims earlier this week on Scott Melker's Wolf of All Streets podcast, in which he stated that “I really don't think Bitcoin will ever be a currency in the US. Nor do I think it should be ”.
"And what it's doing is demonetizing other forms of ownership," he added while pointing out that people are now considering whether to buy Bitcoin instead of opting for traditional investments like real estate, stocks, starting a business or buying gold.
MicroStrategy has been gradually accumulating Bitcoin since August 2020, and the company now holds 105.085 BTC worth approximately $ 3,3 billion at the quotation today.
Saylor told Brunell that even if Bitcoin collapses in the short term, MicroStrategy has no plans to sell and is prepared for the volatility to come in the future.
HODL is the real secret
He pointed out that the key is HODL through periods of market recession and FUD, and pointed to giants in the tech space such as former Microsoft CEO Steve Balmer, who hasn't sold his stock when the price plummeted in the past:
“What was the brilliant thing that Steve Balmer did to be worth $ 100 billion? you know, he didn't sell Microsoft. "
Saylor also referred to a quote from Warren Buffet stating that "If you're not willing to own a stock for ten years, don't even think about owning it for ten minutes," and cited that Amazon's shares also recovered. from 80% crashes in the past.
“An iPhone 12 in a hundred years won't be worth anything, so the product Apple is selling won't last 1000 years. The product that Bitcoin is selling is 1/21 millionth of all the money in the world. This doesn't have to change, it just doesn't have to break, ”he said.
The MicroStrategy CEO noted, however, that if Bitcoin's price were lower than it is today in four years, he should reconsider his strategy.
