Microstrategy chief executive Michael Saylor says $250 trillion worth of assets are looking for an ideal store of value and Bitcoin is a prime candidate.
In a Hedgeye interview with Keith McCullough, the head of the world’s biggest publicly traded business intelligence firm explains why investors should simply buy and hold the leading crypto asset.
You have a chance to buy and own the winner and just wait for the rest of the world to recognize it. You tell me: is there any winning trade of Facebook or Apple or Google or Amazon stock in the year 2012 that’s better than the trade of buying it?”
Saylor also says that when it comes to preserving one’s wealth over the course of decades, Bitcoin’s performance is second to none.
Because I can’t do it with real estate in Florida. They tax it away from you in 30 years. I can’t do it with any stock because I don’t know the stock won’t get destroyed in 30 years. I can’t do it with gold because it’s going to be cut in half and maybe seized by someone in 30 years. I can’t do it with a bond and I can’t do it with currency. With Bitcoin, because you can’t make any more of it, you’ve got this pure piece of financial energy. You could buy it. You could hold it for no carry costs and you would be able to hand it to someone in 30 years.”
As BTC proves itself as the number one store-of-value asset, the MicroStrategy CEO highlights how Bitcoin could be at the receiving end of hundreds of trillions of dollars worth of investments.
“There’s a $250 trillion ocean of assets. They are all looking for the ideal store of value right now. I believe that the obvious question is, ‘How do we explain to people that Bitcoin is digital gold, it’s a better gold than gold, and it’s a better store of value than big tech?’ We can show them with numbers and we can show them with narratives but as that happens, then a lot of that monetary energy is going to flow from the asset ocean into the crypto pond and everybody that makes that transition is going to benefit. So it’s a chance to do good for the world.”