U.S. entrepreneur and CEO of software maker MicroStrategy, Michael Saylor, has explained in a YouTube interview why he sees bitcoin as offering a better investment opportunity than tech company stocks.
MicroStrategy CEO Michael Saylor sees bitcoin as a better investment opportunity than tech companies. That’s the gist of a recent interview the crypto maven gave. In it, Saylor says it makes more sense to invest in the digital store of value than in stocks of tech giants like Facebook, Amazon or Apple. Precisely, he said:
I’ve invested in everything, I was an early investor in Apple, Facebook, Amazon, Google, OpenTable, eBay and PayPal. And I’ve made huge amounts of money. I’ve made 10 times, 20 times my money back, and let me tell you: none of them look as good as this (Bitcoin Formula, editor’s note) looks to me.
The American entrepreneur is considered the first institutional investor in Bitcoin with his software company MicroStrategy.
In August 2020, the firm announced plans to initially invest $250 million in the cryptocurrency. In December last year, the Virginia-based firm made a double investment in BTC. Thus, they first bought 400 million US dollars. Then, at the end of the month, another 650 million. Thus, the U.S. company has put more than one billion U.S. dollars in the store of value.
Michael Saylor invested in bitcoin before
In a YouTube interview with Anthony Pompliano published in September, the CEO revealed that he realized early on that the value of conventional money is steadily diminishing.
The problem is that I have a lot of cash and I’m watching it melt away.
He went on to say about bitcoin investors who recognized this issue earlier:
76.4% of retail investor accounts lose money trading CFDs with this provider [advertisement].
They are smarter than me, I am not joking, I am serious, they are smarter than me. They knew before I did that cash is garbage, and that you’re a fool if you’re sitting on cash.
Meanwhile, Michael Saylor is considered one of the biggest proponents of Bitcoin.