MicroStrategy CEO Michael Saylor expressed his support for cryptocurrencies and called Bitcoin the most dominant digital property network. In the interview with CNBC on Tuesday evening, he compared Bitcoin to digital gold on a big technology network.
Commenting about the performance over the last 12 months the recent surge in inflation, and the role of Bitcoin in the global inflationary environment, the American entrepreneur said:
“Investors are seeing that Bitcoin’s up 330%, and gold is up 7% in that period, so Bitcoin is outperforming gold as an inflation hedge by a factor of 50.”
“Bitcoin is the highest, most dominant, digital property network. Think of it as granite blocks in cyber-Manhattan,” stated Saylor in the interview. “Then you’ve got digital currency, that’s like tether and stable coins, they want to be money markets in cyberspace, and so they’ll be like the CBDC dollars. Then you’ve got digital applications like Ethereum. ETH wants to dematerialize the JPMorgan building and the banking establishment and all of the exchanges.”
Also, the noted Bitcoin evangelist laid out in the interview with CNBC Fast Money his company’s Bitcoin investing strategy, from recent borrowing $500 million to fund its purchases and filing to sell up to $1 billion in shares. Saylor explained why a bet on “digital gold,” like Bitcoin and Ethereum, should be good for investors.
“As the market starts to understand these things, there’s a place for everybody,” he said about the place of others cryptocurrencies of the crypto world. “The world is waking up to the fact that Bitcoin is a digital property on an open monetary network. That’s pretty profound because it’s going to spread to billions of people on the planet,” Saylor added.