Bitcoin Is the Only ‘Institutional-Grade Asset’ in the Crypto Space, Says MicroStrategy CEO Michael Saylor
The CEO of business analytics software firm MicroStrategy, Michael Saylor, says Bitcoin is in a class of its own compared to other crypto assets.
In a new Bloomberg interview, Saylor says Bitcoin is in a league of its own as he separates all crypto assets into three distinct categories.
“In the market, there are three things – there’s the blue-chip asset, the institutional-grade asset which is Bitcoin. And if you want to buy something and hold it for 30 years, in lieu of a bond or a little of cash or other forms of credit, then Bitcoin is that commodity. Store of value. It’s in a class all by itself.
Then you have unicorns. You have the Solanas and the Binance Smart Chains and the Ethereums. And they’re like the Airbnbs and the Ubers of this space, and there are sparks. And there’s a lot of money, and there’s a lot of risks. And if you’re Softbank, maybe you would get into those kinds of businesses. And we don’t know how those stories end.
And then you’ve got the smaller crypto ventures, right. The 6,000 projects out there that are looking for some future. And I think they’re all competing in a world where there’s some murkiness about what’s appropriate, what’s not.
MicroStrategy, obviously, only invests in Bitcoin. I think if you’re an institutional investor, the only institutional-grade asset, the only investable asset you can invest in is Bitcoin.”
Earlier this week, MicroStrategy announced that it added 5,050 BTC to its coffers, worth $240 million. The business analytics software firm has the largest Bitcoin holdings among publicly listed companies to the tune of 114,042 BTC, worth $5.44 billion at time of writing.
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Author: Daily Hodl Staff