1000x Better Than Gold: MicroStrategy CEO Says He Will HODL Bitcoin for 100 Years

MicroStrategy’s CEO Michael Saylor continues to dig deeper into Bitcoin after his company purchased $425 million worth of the cryptocurrency. In a recent podcast episode with long-time BTC proponent Anthony ‘Pomp’ Pompliano, Saylor claimed he’s ready to HODL Bitcoin for a century and said it’s 1,000 times better than gold.

Saylor On His Change Of Heart Regarding Bitcoin

MicroStrategy’s CEO has a compelling history of Bitcoin. He completed his one-eighty transformation from predicting its death in 2013 to calling it a “legitimate investment asset” in 2020 after his company purchased $425 million worth of BTC in less than a month.

In Pompliano’s latest podcast episode, Saylor commented on his 2013 tweet, which received a massive attention boost from the community after the large BTC purchase. Interestingly, Saylor said that he had forgotten about the post until he was recently reminded of it:

“I’m really ashamed to say, but I didn’t know I tweeted it until the day that I tweeted that I bought $250 million worth of Bitcoin. Then I discovered the hive mind crypto Twitter consciousness where, all of a sudden, they all went through all my tweets, they found it, they reminded me of it, they compared it.”

Later on, Saylor explained that he signed up on Twitter in 2013. His lack of experience led to posting several controversial posts, but he learned to tweet more selectively in time.

 YahooMicroStrategy CEO Michael Saylor. Source: Yahoo

Saylor: BTC Is Better Than Gold, I Will Hold For 100 Years

When reasoning why his company bought Bitcoin, Saylor noted that he has a “mega, mega problem – I have a lot of cash, and I’m watching it melt away. I’m helped to realize that I have a mega problem by this insane V-shaped recovery in the bond and equity markets.” He also dismissed commercial real estate because it’s just “not compelling.”

Instead, what he aimed for was an asset, whose production rate can be “cut in half” and its price “can go up by a factor of 10. That’s what any intelligent investor wants.”

Both Pomp and Saylor brought out the decade-long comparison between Bitcoin and gold as both assets share similarities such as limited supply. However, MicroStrategy’s CEO said that “Bitcoin isn’t 10x better than gold, it’s 100x, maybe it’s 1,000x better than gold.”

By highlighting these views on Bitcoin, Saylor has decided to become a BTC HODLer as he plans to hold the primary cryptocurrency for “100 friggin’ years.”

Featured Image Courtesy Of Medium

The post 1000x Better Than Gold: MicroStrategy CEO Says He Will HODL Bitcoin for 100 Years appeared first on CryptoPotato.

Publication date: 
09/18/2020 - 17:08
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