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- No Plans for Selling Bitcoin
- Bitcoin in Balance Sheets
- Bitcoin Vs. Gold
- Bitcoin Vs. Stable Coin
- PoW Vs. PoS
- PoS Boasting about Green Credentials
Microstrategy owns 129,218 Bitcoin. Noteworthy, Michael Saylor got a $205 million loan from Silvergate Bank, the crypto lender to buy more Bitcoin. This is a 3-year term loan collateralized by nearly $820 million worth of Bitcoin.
No Plans for Selling Bitcoin: MicroStrategy CEO Michael Saylor long bullish on bitcoin does not have plans for selling. Bitcoin according to Michael Saylor is the only scarcity which beats gold, real estate, and everything else which can possibly be created.
Bitcoin in Balance Sheets: Saylor calls Bitcoin Magical as only 21 million tokens can be created when compared to assets which can be created indefinitely.
MicroStrategy is an enterprise software developer keep adding bitcoin to their balance sheets. There are several other companies who add Bitcoin to their Balance sheets.
Adding Bitcoin to their balance sheet has been highly rewarding for institutions that have gone that way. Michael Saylor, the CEO of MicroStrategy, has said that his company has no regret in choosing Bitcoin over gold.
Bitcoin Vs. Gold: Talking at a warm-up event for the Bitcoin 2022 conference, Michael Saylor emphasized that Bitcoin is far better for Microstrategy than gold.
Microstrategy has a “Bitcoin Standard” as opposed to the general tendency of a “Gold Standard” and this has in turn contributed to the standing of the company at present.
Saylor established that if Microstrategy invested in Gold share holders would have missed out on the $4 to $5 billion profit which the company is sitting on.
“If I had picked gold instead when I bought Bitcoin we would probably have about $250 million in gold. And our shareholders would have missed out on $4 or $5 billion.”
Bitcoin Vs. Stable Coin: Saylor also clarified that Cryptocurrency is not opposed to the US dollar; however, is a net positive for it. Bitcoin is more like a property; however, the greenback is often represented by the dollar-pegged stable coin. The stable coin continues to be the top choice currency, which one wants to own in any country.
PoW Vs. PoS: Further expressing his views about PoW Vs. PoS Saylor’s stated that banning proof-of-work will amount to banning digital property. Previously, Saylor had stated that banning BTC is a “Trillion Dollar Mistake.”
PoS Boasting about Green Credentials: Bitcoin is the most cost-efficient method of “converting energy into prosperity.” According to Saylor, PoS and other non-energy based consensus algorithms will only be able to boast about their green credentials. Further Saylor opined that all non-energy tokens should be deemed as unregistered securities by regulators.
Thus, Microstrategy will continue to accumulate Bitcoin. And, they are not looking back. The enterprise holds about 0.5% of the total Bitcoin.
