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MicroStrategy’s Intent on Bitcoin Crusade

Michael Saylor stays extremely bullish on mainstream crypto adoption.

MicroStrategy has been one of the most visible institutional Bitcoin investors in the world over the previous year, this is thanks in large part to its CEO, Michael Saylor, whose captivating tweets about the urgency of Bitcoin have been something like a company promise.

MicroStrategy now owns 71,079 BTC (around $2.6 billion), and there is no sign that it will stop investing any time now.

In today’s session at MicroStrategy’s multi-day “WorldNow” conference, Saylor stated that he expected other companies to join in the crusade.

“If your company has money on its balance sheet, and it’s sitting in fiat currencies like euros and dollars, they’re losing about 15% of their purchasing power each year,” stated Saylor, appearing to mistakenly imply that all fiat currencies are devaluing at a flat rate of 15% each year.

“The simple solution is to convert some of that cash into Bitcoin. We did it, Square did it. You’re going to see an avalanche of companies in the coming 12 months also converting their balance sheets into Bitcoin because it’s a scarce digital safe-haven asset.”

Saylor is once again creating an argument for Bitcoin adoption comes as no surprise, given the size of his investment.

He had admitted that driving Bitcoin is the main goal of the conference: in a conversation with Ross Stevens – the founder of Stone Ridge, and a Bitcoin believer – Saylor stated that while they may be already on board, “the reason we’re having this conference is to help everybody else figure out what they should do.”

Stevens then suggested that the decision to convert a company reserved to Bitcoin, from fiat currency, could be the most important decision an executive can make in the next decade.

Even if that is true for other companies’ bottom lines, it matters for MicroStrategy and its evolving Bitcoin reserve.

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