• Michael Saylor, former CEO of MicroStrategy, is confident that bitcoin remains a safe haven for traders and investors despite the past year’s volatility.
• Despite his investments in cryptocurrency costing MicroStrategy over $1 billion, Saylor still backs BTC as the best performing asset in the last two and a half years.
• Saylor believes that the FTX debacle ultimately helped the crypto space by focusing attention on its potential.
Michael Saylor Still Believes in Bitcoin
Michael Saylor – the former CEO of MicroStrategy – is confident that despite all that’s happened over the past year or so, bitcoin is still a major safe haven for traders and investors. First beginning his bitcoin investments in late 2020, Saylor has continued to add digital currency to his company’s balance sheet—a decision that has wound up costing MicroStrategy more than $1 billion at the time of writing. Last year saw many leading assets (like bitcoin) lose a minimum of 70 percent of their values over 12 months, but this hasn’t shaken Saylor’s belief in BTC as he stated: “The only real safe haven for an institutional investor is bitcoin.“
MicroStrategy Stock Tied to Bitcoin Performance
At one point last year, MicroStrategy’s stock was heavily tied to bitcoin’s performance. But looking back on it now, Saylor commented on how effective his corporate strategy has been: „When we think about the corporate strategy and its effectiveness, we go back to the summer of 2020… We pick [several] different benchmarks. I think the most important is bitcoin’s performance. Nobody who talks about bitcoin points out that despite its volatility, it’s the best-performing asset over the past two and a half years.“
FTX Debacle Focused Attention on Crypto Potential
Saylor also addressed recent events with FTX—stating that while it was certainly harrowing for those involved, it ultimately helped focus attention on cryptocurrency’s potential: „The crypto meltdown focused attention on what could be done with digital assets… It got people’s attention from all walks of life—from politics to Wall Street.“ He then added: „I think this will eventually prove out to have been very beneficial for global capital markets.“
In conclusion, Michael Saylor remains bullish when it comes to BTC despite his company’s losses due to investing in digital currency. He believes that cryptocurrencies are here stay and are a viable option for institutional investors seeking safety amidst market turbulence. Even though there have been several bumps along way—such as with FTX—all ultimately serve as learning experiences which can help shape future success stories within this space moving forward.