- On Tuesday during Microstrategy’s Q1 earnings conference call, CEO Michael Saylor said that Bitcoin is a better asset than gold.
- The CEO further advises people to keep it in their portfolio, following the Fidelity Investments announcement of the launch of a Bitcoin(BTC) option for its 401(k) plans.
- Total Bitcoin holdings of Microstrategy is 129,218 Bitcoin worth $5.12 billion, as of March 2022.
Michael Saylor, CEO and founder of Microstrategy, advises people to add Bitcoin to their investment portfolio. His statement came after Fidelity Investments announced the launch of a Bitcoin(BTC) option for its 401(k) plans.
The Bitcoin advocate also declared the top crypto asset better than gold on Microstrategy’s Q1 earnings conference call on Tuesday.
Saylor says it is an understatement to call Bitcoin a digital gold. He believes that the leading asset is the hardest money in the world’s history. Addressing the audience, he says that if you plan to have a retirement fund, then Bitcoin is “an element of a 401(k).”
He also points out that since more Bitcoin can not be generated, it’s better than a commodity.
Acknowledging people’s fear regarding the risks in stocks and bonds due to the current economic scenario, Saylor assures that Bitcoin is the least risky asset to have in a retirement fund.
After the 401(k) launch, people would be thinking about Bitcoin; they could either call it the least risky thing to have in a retirement portfolio or something that’s too risky to have in a retirement portfolio.
The CEO believes that if people study it properly, they will realize that it’s actually the least risky thing to keep in a retirement portfolio. He backs his argument by saying that at least the people who have actually studied Bitcoin for some time believe so; therefore, Fidelity’s 401(k) offering is a massive educational event. Further, Saylor says an entirely new class of investors will be introduced to Bitcoin.
Microstrategy holds 129,218 Bitcoin worth $5.12 billion, as of March 2022. Moreover, Saylor said that the firm does not plan to sell the leading asset and hold it long-term.
Source: https://www.thecoinrepublic.com/2022/05/06/microstrategys-michael-saylor-advises-adding-bitcoin-in-retirement-portfolio-says-its-the-least-risky-investment/