Michael Saylor was back on Bloomberg to preach the good word about bitcoin.
“You don’t sell your bitcoin”
Microstrategy shows a latent gain of 70% on its cash converted into bitcoins. Bloomberg wanted to know if Michael Saylor plans to take profits on these 200,000 BTC ($10 billion).
“I have notoriously said I will never stop buying at the highest. Bitcoin is the exit strategy. It is the most robust asset. It is an asset class that has just reached $1 trillion. It is side by side with big assets like Apple, Google, Microsoft. But unlike the magnificent seven (Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla), bitcoin is an asset class all on its own. It is not a multinational.
There is not enough room in a company’s capital structure to represent 10,000 or 100,$000 billion. As a store of value, bitcoin competes with gold, which weighs 10 times more. It also competes with the S&P 500 ($42 trillion) and real estate (over $100 trillion). We believe that more capital will leave these asset classes and seek refuge in bitcoin. The reason being that it is technically superior to these asset classes. There is no reason to sell the winner to buy the losers. »
As written in this article, the launch of bitcoin ETFs coincides with a divestment in gold-backed ETFs. The latter suffer a hemorrhage. They recorded total outflows of $2.1 billion while, at the same time, Bitcoin ETFs raked in $5 billion.
For information, a single BTC will be worth $500,000 when its total capitalization reaches that of gold. We should reach this figure within 7 years if, as Michael Saylor believes, BTC appreciates by 40% per year over the coming decade.
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