Bitcoin offers “economic immortality,” according to Michael Saylor
The director of the MicroStrategy company, Michael Saylor, once again expressed his closeness to bitcoin (BTC) and highlighted that the digital currency offers “economic immortality.”
The American businessman’s phrase refers to how individuals, corporations and countries could take advantage of the technology and qualities of bitcoin. In this way, Saylor pointed out how bitcoin would improve the traditional financial system.
“Bitcoin allows us to move capital across time and space. This means we could eventually enable global payments for 8 billion people at the speed of light, directly from a mobile phone, without intermediaries.”
Michael Saylor, co-founder and director of MicroStrategy.
Following this line, Saylor emphasized that companies have an average duration of ten years or that they disappear after the death of their owners and, that thanks to the mentioned possibilities that it offers bitcointhese circumstances would change.
“If you build a company that lasts more than 10 years, that’s significant. How many companies have existed for more than 100 years? “We are talking about making companies live forever (by contributing bitcoin).”
Michael Saylor, co-founder and director of MicroStrategy.
On the other hand, the manager ventured to make a prediction about the price of bitcoin, however, he did not mention the period in which this goal established by the businessman would be achieved. He expressed that the value of bitcoin would reach 10 million dollars at some point in the future.
Saylor also highlighted his positivism regarding the possible insertion of the Asian market into the digital ecosystem. He explained that if China authorized the Shanghai bank to issue instruments linked to bitcoin, this would boost the adoption of the digital currency to 1.5 billion more people in the world.
However, and in contrast to what Saylor mentioned, it is worth remembering that, in Asia, specifically in the Hong Kong region, there is already a bitcoin ETF operating. Although bitcoin ETFs issued in Hong Kong are not available in mainland China, the truth is that their returns have not been as fruitful as those operating in the United States, according to the online platform SoSoValue.
Saylor boosts bitcoin adoption
As already reported in CriptoNoticias, Taylor adopted bitcoin as its main reserve capital and refuge against inflation. Its accumulation of the digital currency began in 2020 and led MicroStrategy to currently be the publicly traded company with the largest holdings of BTC.
According to the BitcoinTreasuries site, the company dedicated to the development of business technology has a total of 226,331 BTC, which is equivalent to 8.33 billion dollars. In turn, it has a market capitalization of almost $26.3 billion.
MicroStrategy, founded in 1989, is known for employing the “Dollar Cost Averaging” (DCA) strategy for the purchase and accumulation of bitcoin.
This strategy is based on making staggered purchases over time to average a low average price at which an asset is acquired. In the case of the company Saylor, got an average bitcoin purchase price of around $35,000, while BTC is trading at the time of writing in the $61,000 area.
