While speaking on the July 15 edition of the “Coin Stories” podcast with host Natalie Brunell, MicroStrategy CEO Michael Saylor opined that bitcoin is more like digital property than digital currency. MicroStrategy is a business intelligence company founded in 1989. The firm has recently been in the news for its massive investment in the world’s leading cryptocurrency bitcoin this year. Bitcoin has gained a lot of mainstream exposure this year among retail and institutional investors.
The U.S. government is not threatened by bitcoin.
When asked if he thought that Bitcoin was a threat to the U.S. dollar, Michael Saylor replied: “I would call it a digital property, it’s a threat to the property, it’s particularly a threat to other forms of property: gold is property, real estate is property. I don’t think the United States government is threatened by real estate or buildings or companies or gold.” While speaking on the Scott Melker’s Wolf of All Streets podcast earlier this week, MicroStrategy CEO had stated that “I don’t really think that Bitcoin’s going to be a currency in the U.S. ever. Nor do I think it should be.”
MicroStrategy now holds 105,085 BTC worth around $3.3 billion.
The business intelligence firm has been gradually accumulating Bitcoin since August 2020, and the firm now holds 105,085 BTC worth around $3.3 billion at today’s prices. Saylor told Brunell that even if Bitcoin crashes in the short term, MicroStrategy has no intention to sell and is prepared for the volatility that will occur in the future. The CEO emphasized the key is to hold through periods of market downturn and FUD and pointed to giants in the tech space, such as former Microsoft CEO Steve Balmer, who didn’t sell his stocks when the price crashed in the past.