In an interview with Barstool Sports founder Dave Portnoy, Michael Saylor revealed he would never stop buying Bitcoin. The Microstrategy executive told Portnoy that he will still buy more Bitcoin at a billion dollars a day when the asset retails at a million dollars per coin.
Microstrategy’s co-founder and former CEO Michael Saylor revealed his plans to continue to buy Bitcoin as part of the company’s strategic reserve. In an interview with Barstool Sports founder Dave Portnoy, the executive chairman said he would still buy Bitcoin when the asset hit a million dollars per coin. Saylor also revealed he will buy the crypto asset at the rate of a billion dollars a day.
Michael Saylor compares Bitcoin to Manhattan real estate
Michael Saylor compared his approach to Bitcoin with the Manhattan real estate market, which was considered “expensive” in the 1930s but still considered expensive in the 1830s. Saylor explained that 100 years from now, people will still buy Manhattan real estate at more expensive prices than today’s market rates.
“Manhattan real estate is really expensive in 1930. It’s a lot more expensive than 1830. Well, you know, 100 years later we’ll still be buying it, and we will be paying a lot more. The only issue is can you hold it for that time period because people are gonna wanna buy it.”
Michael Saylor
During the interview, Dave Portnoy said he thinks Bitcoin is too big to fail because too many people with a lot of money are involved in the asset. He also asked Saylor if owning Bitcoin is an economic or moral decision.
Saylor explained that owning Bitcoin is both an economic and a moral decision because it gives holders control over their funds. Saylor also explained Bitcoin to Dave Portnoy in sports terms and said Satoshi Nakamoto created the Bitcoin game for everyone to win.
Michael Saylor thinks Bitcoin is the world’s reserve capital network
Michael Saylor is one of the most vocal Bitcoin enthusiasts in the crypto industry. He has appeared on numerous podcasts and mainstream media to talk about his aggressive Bitcoin approach and his future prediction on Bitcoin’s underlying value.
Saylor recently appeared in an interview and explained how Bitcoin has emerged as the world’s reserve capital network for long-term investors in various parts of the world, including Africa. Saylor said in the interview that people have realized that Bitcoin is better than other popular investment vehicles, such as real estate and the stock market.
During the interview, Saylor mentioned that the asset’s volatility will decrease as it grows and matures. He also highlighted that extreme drawdowns witnessed in the past will decrease significantly moving forward.
According to Bitcoin Treasuries, Microstrategy remains the largest corporate Bitcoin holder. The software company made its most recent purchase on December 8th, worth $2.1 billion, which saw the company add 21,550 Bitcoin to its holdings, bringing its total Bitcoin tally to 423,650 Bitcoin, worth $41.4 billion at current market rates. BlackRock, the world’s largest asset management firm, follows MicroStrategy with $34.37 billion in Bitcoin holdings held by the firm’s spot Bitcoin exchange-traded fund, IBIT.
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