“Bitcoin is Safe Haven, Will Continue Buying Forever” – Michael Saylor
Founder and CEO of business intelligence firm MicroStrategy, Michael Saylor, does not back away from his convictions and remains bullish on Bitcoin (BTC) amidst some market volatility.
Speaking with Tucker Carlson on Fox News, Saylor clarified that he is still in full support of the flagship cryptocurrency noting that Bitcoin is the “most certain thing” in a world full of uncertainties. He said:
“In a market full of chaos and sound and fury, people need a safe place to stand apart from the intervention of a government, an agency or a corporation. Bitcoin represents a fair, open, equitable network with a very simple promise to anyone who wants to join, which is, what you own is yours, and no one is going to take it away from you.”
The notorious Bitcoin bull highlighted that in the past two years, since the start of the global pandemic, Bitcoin has been able to perform well, gaining more than 3x during the time.
“In these markets right now, there’s no simple place to hide. All indexes are bear market territory. Bonds don’t represent a safe refuge because they’re currency derivatives. Stocks have to grow their cash flows faster than the inflation rate.
But if you zoom out two years since the beginning of the Covid crisis, the US money supply has expanded 36%. Gold is up 7%. The S&P index is up 29%. The Nasdaq’s only up 19%. Bitcoin’s up 229%, so if you can stomach the volatility, you take the long view, you’ve got a safe haven there.”
The MicroStrategy head doubled down on his company’s ambitions and said they will continue to accumulate BTC, regardless what the price might be. The analytics software firm currently holds 129,218 BTC, worth a little over $4 billion.
“Whenever I have some spare cash, we buy more Bitcoin. We are taking a very, very long view toward this. The network is only getting better. Adoption is improving. Very constructive regulation is coming out of D.C., and the lightning network is moving us closer to Satoshi’s promise of letting everybody in the world trade with each other at the speed of light in a fair and equitable fashion…
I’ll be buying at the top forever. The maximalists believe that Bitcoin is an instrument of economic empowerment. I’m not trying to time the market.”
Saylor’s continued endorsement comes after Bitcoin has lost close to 60% of its value since its all-time high last year of $69,000.
Earlier this year in a letter to investors, he said his firm will keep adding Bitcoin to the books, explaining that:
“Adopting bitcoin as our primary treasury reserve asset set us apart from conventional competitors and elevated our brand.
We will continue to vigorously pursue both strategies.”
At time of writing, BTC is moving hands at $31,568 according to CoinMarketCap.
“I’ll be buying the top forever” — @Saylor pic.twitter.com/3yBGvS6Ps3
— Documenting Bitcoin 📄 (@DocumentingBTC) May 28, 2022
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