Bitcoin Is Going To Outlast All Of Us Says Michael J. Saylor

–Michael J. Saylor shared his thoughts about bitcoin in particular and the crypto space in general. 

– Saylor- We’re here for the long term. Bitcoin is going to outlast all of us. I’m quite sure of that.

– Is it a too high risk at the moment for retail investors to invest in the crypto market

On June 22, Wednesday, the co-founder, president, and CEO of the Nasdaq listed business intelligence company Microstrategy Inc, Michael J. Saylor shared his thoughts about bitcoin in particular and the crypto space in general. 

On August 11, 2020, it was worth remembering that Microstrategy declared through a press release that he had purchased 21,454 bitcoins at the total cost of $250 million to use as a “primary treasure reserve asset”. 

At that time, Saylor said that-“Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe in creating long-term risk for our corporate treasury program- the risk that should be addressed proactively.”

Afterward, Microstrategy continued to gather  Bitcoins, and the CEO has become one of the most vocal believers  of Bitcoin. According to Saylor’s last tweet about the $BTC purchase on April 5, on that tweet, he means to say that the firm is now Holding around 129,218 bitcoins, which costs $3.97 billion at an average cost price of $30,700 per bitcoin.

Saylor’s Recent Comment About Bitcoin During Conversation With CNN

Recently Saylor joined a conversation on CNN with International Anchor and Correspondent Julia Chatterley. Chatterley started by asking Saylor what if Bitcoin could go bust ? 

Saylor said that- “We’re here for the long term. Bitcoin is going to outlast all of us. I’m quite sure of that.”

Then Chatterley asked if Bitcoin needs the crypto space to get regulated to start going up again.

Saylor replied- “Yeah, I think it’s clear that the people are confused, and regulation will be constructive because clarity will help the market mature. The people are confused about what’s a commodity, what’s a security and what are tokens.”

“There is 19,000 crypto out there, I think we can see in the crypto crash that the average investor’s been taken advantage of by trades and by wildcat crypto banks, and as the regulators come in and they introduce rules of the road, it’s going to be good for mainstream investors.” 

After that, Chatterley wants to know whether- is it a too high risk at the moment for retail investors to invest in the crypto market.

Michael said, “Well, I think the challenge is if you wait for a decade for everything to be cleared up, the price of Bitcoin will be 10 to 100X more than this right now. So, you have to choose whether or not you want to enter knowing that there are about a dozen things that are going to mature the asset class and make it more transparent or whether you want to wait for all those things to take place and then pay a much higher price when it does.” 

Conclusion

The co-founder, president, and CEO of Nasdaq-listed business intelligence company Microstrategy Inc, Michael J. Saylor, shared his thoughts about Bitcoins. He cleared all the points which were asked by the media house. He wants to say that his decision to invest in Bitcoins at the time is right. And as per the conversation with the news media house, he cleared all the confusion people are thinking about bitcoin. What’s your take on it would you invest in bitcoin right now comment down below.  

ALSO READ: Crypto Crash Results In Bitcoin-Exposed Stocks Such As Coinbase, MicroStrategy Dipping

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

Latest posts by Nancy J. Allen (see all)