The growth and adoption of Bitcoin have shown its progression recently with the institutional interest expanding thanks to the likes of Paul Tudor Jones and MicroStratergy. The former proved that Bitcoin could be a good investment as he added it to his impressive portfolio, and Microstrategy CEO Michael Saylor is highlighting the potential for the investment to grow over time — 100 years time.
Saylor and his company have broken a number of barrier in terms of backing Bitcoin as collateral for a company of this magnitude. The CEO has invested nearly half a billion dollars into Bitcoin and plans to see it grow his money by holding, or ‘hodling.’
However, the CEO has now outlined just how much of a hodler he is by stating he will hold his Bitcoin for 100 years. He explained in the video interview “If it’s not 100x better than gold, it is 1 million times better than gold.”
Saylor said the decision to invest $250 million was informed by a discussion between its board of directors and the firm’s investors, auditor and executives. Saylor explained:
“This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”
Global economic pressure
While Bitcoin may be presenting itself as a new asset that is growing an maturing to a point where it is a viable alternative asset for companies, there is also external pressures driving the growth of the digital asset.
Globally, monetary policies that affect the worth and value of traditional currencies have been put into overdrive thanks in part to the global Covid-19 pandemic. Tax and fees kill almost all other assets, he concluded, and those that aren’t killed are instead crippled because they are controlled by a CEO, government or country.
Besides the pandemic, there is a feeling that the future of finance is evolving and at a point where a drastic change is on the horizon. CBDCs are being discussed by major central banks as the future of payments, and Bitcoin is being put forward as the new best investible asset.
Saylor said in the video interview that many people believe he has weak hands, saying “Ya, Saylor’s going to buy it and he’s going to dump it. He’s going to buy it and then buy another company with it. He’s going to buy it until he gets this profit and do whatever.”
But in reality, he isn’t going to sell it, explaining that he is in it for the long haul:
“They don’t understand the mindset of long. I’m buying it for the dude that’s going to work for the dude that’s going to get hired by the guy who takes over my job in 100 years.”