MicroStrategy CEO Michael Saylor stressed that he considers buying Bitcoin right now to be comparable to having invested in Facebook in the early days of the social network.
Specifically, during an interview on CNBC’s “Squawk on the Street.” MicroStrategy CEO Michael Saylor said that borrowing money now to buy more Bitcoin was like investing in one of today’s dominant tech companies.
Michael Saylor compares Bitcoin’s investment to Facebook’s
Mainly, MicroStrategy CEO Michael Saylor remains bullish towards Bitcoin. He even compared investing in Bitcoin to investing in Facebook’s early days.
«If you borrow billions of dollars at 1% interest. And invest it in the next Big Tech digital network that we thought was going to be the dominant Amazon, Google or Facebook, why wouldn’t you?»
As a curious fact, Michael Saylor said: «Look, if I asked Elizabeth Warren her opinion on Google, Facebook, Amazon and Apple in 2010, I wonder what she would have said».
In fact, he added: ‘I mean, if I could borrow a billion dollars. And, buying Facebook a decade ago for 1% interest, I think I would have done pretty well.».
Of course, Peter Schiff’s comment could not be absent: «What a silly claim. You cannot justify borrowing to bet on Bitcoin. Because a similar bet if it were made to buy Facebook would have been worth it ».
Saylor doubts politicians understand cryptocurrency
For his part, Michael Saylor says he believes MicroStrategy’s partnership with Bitcoin has raised the bar. And, he claimed that politicians calling for greater oversight of cryptocurrencies do not fully understand the market.
In this regard, he added: «It would take a thousand hours to really understand Bitcoin. I think that, right now, all politicians in the world are being asked to have an opinion on this. And I doubt that every politician has a thousand hours to think about it or study it».
You agree to acquire and hold Bitcoin
However, despite the falling price of Bitcoin (BTC), Michael Saylor has reiterated that he does not intend to sell his Bitcoins.
By the way, Saylor said that the company’s plan is to continue acquiring and holding Bitcoins. And he plans to focus on educating corporations, institutional investors, regulators and the general public about its benefits.
«We believe that the most diversified and least risky investment strategy is to simply hold Bitcoin».
Specifically, so revealed Michael Saylor in a webinar in which he presented the results reported by MicroStrategy for the second quarter of this year.
«Our macro strategy is to acquire and hold Bitcoin. We will help explain Bitcoin to regulators, the public and the media».
Finally, Michael Saylor indicated on CNBC: «Our view is that it is only a matter of time before billions of people have mobile phones embedded in Bitcoin. And, we just want to be there first».
I close with this phrase by Michael Saylor: «Bitcoin fixes everything».