“BTC is the best safe haven treasury reserve asset in the world” CEO of MicroStrategy said on CNBC

Michael J. Saylor, Co-Founder of MicroStrategy Inc. Explained on CNBC why his firm is holding so much Bitcoin.

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On August 11, MicroStrategy revealed via a press release that it “purchased 21,454 bitcoins at an aggregate purchase price of $250 million” to use as a “primary treasury reserve asset.”

During an interview with Melissa Lee, host of CNBC’s Fast Money postmarket show, Saylor’s latest comments on bitcoin were given. Lee first asked Saylor why he decided to invest cash in Bitcoin from his company. Saylor Responded:

“We had $500 million of cash, but we knew we were going to generate another $500 million worth of cash, and we realized that if we held it in cash, it was going to debase by 10–15% a year, and I didn’t want to lose half of it. what isn’t so well understood is the Bitcoin is the best safe haven treasury reserve asset in the world right now, and it’s engineered to be superior to gold in all aspects. So, that that being the case, a lot of people understand the asset story of Bitcoin.”During his interview with CNBC, he also mentioned that as investors are getting to know Bitcoin more daily, at some point they will all invest their money into BTC; “and that’s going to create a virtuous cycle of adoption followed by price appreciation followed by value accretion followed by technology integration from companies like Square and PayPal. It will be Apple and Google shortly.”

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