MicroStrategy CEO Michael Saylor says he believes in Bitcoin’s long-term value as he names a slew of catalysts that can drive the price of the leading crypto asset in the coming years.
In a new interview, the Bitcoin whale explains why MicroStrategy continues to buy Bitcoin even as the price of BTC is already down 50% from its all-time peak.
“We’ve adopted a very simple strategy: buy a hundred and five thousand blocks of Bitcoin in cyber Manhattan. We think it’s going to be good for hundreds of years, and one day, billions of people will want to live there.”
He also shares why he thinks Bitcoin remains a good investment, naming a number of fundamental drivers that make Bitcoin valuable in the long haul.
“Biden being elected President was good for Bitcoin. Gary Gensler taking over the SEC was good for Bitcoin. The new class of regulators are progressive. They’re more enlightened. They’re more educated on Bitcoin.
I think that you will, in time, see a Bitcoin ETF. You’ve seen Morgan Stanley and Goldman Sachs and most major banks start to trade in Bitcoin and Bitcoin derivatives and offer Bitcoin mutual funds. There’s an avalanche of banks that are going to be offering Bitcoin services and, of course, Coinbase came public and Square and Coinbase are, between them, adding millions of new Bitcoin holders every month, so you just got to be patient, and look at the long-term technology trend.”
The interview comes after MicroStrategy bought 13,005 BTC worth $489 million last week. The business intelligence firm now owns over 100,000 BTC.