MicroStrategy CEO has disclosed why he thinks betting with Bitcoin (BTC) is much better than investing in leading technology brands such as Google, Apple, Amazon and Facebook.
Michael Saylor, CEO of MicroStrategy, in a recent Youtube interview with Chris Jaszczynski of MMCrypto, said betting with Bitcoin is much better than investing in leading technology brands like Google and Amazon.
Saylor has been very vocal about cryptocurrency and its potentials since his company bought BTC late last year. It is worth stating that MicroStrategy was the first public-listed firm to purchase Bitcoin as part of its treasury policy.
“I’ve invested in everything. I was an early investor in Apple, Facebook, Amazon, Google, OpenTable, eBay, and PayPal. I made huge amounts of money. I made 10x, 20x my money in those things, and let me tell you, none of them looks as good as this looks to me.”
The basis for such bias is based on the record inflows of funds comprising of “cash, debt, equities, [and] commercial real estate indices,” that are expected to shift at one point into Bitcoin market.
The highly revered Chief Executive Officer of America’s leading business intelligence company further continued that $300-$400 trillion could flow into the world’s flagship cryptocurrency.
This is nearly 60 times the prediction of $600 billion that was given by the world’s most valuable bank, JP Morgan Chase.
MicroStrategy is listed on an American Stock exchange and has deployed about $250 million into Bitcoin in August and then bought $175 million a month after.
These two investments represented the first and second time a publicly-traded corporation adopted Bitcoin for investment purposes.
MicroStrategy rose its buying pressure subsequently by investing an additional $50 million and even going as far as to raise $650 million in the debt market.
By the end of 2020, the firm had confirmed it had spent $1.125 billion to purchase 70,470 BTC, implying a cost basis of $15,964 per Bitcoin.