MicroStrategy founder Michael Saylor, one of the largest institutional investors in Bitcoin, made important statements about BTC yesterday.
Participating in CNBC's "Closing Bell: Overtime", Saylor explained his views on BTC and why BTC is a currency that deserves to be held or invested in.
Emphasizing that the company recorded a significant growth in software revenues in the last quarter, Saylor stated that this growth benefited the company to finance its debts and buy more Bitcoin.
Pointing out that it is necessary to invest more in Bitcoin, Saylor also touched upon MicroStrategy's BTC losses.
“Bitcoin adoption is driven by a growing global loss of confidence in fiat currencies, traditional banking and competing assets in general.
In addition, BTC has increased by 50% per year on average over the last 3 years. For this, the main key is to hold on to BTC and to minimize volatility.
The company has suffered some losses in BTC investments, but at MicroStrategy we are long-term HODLers in BTC and all stakeholders agree on BTC.”
#Bitcoin adoption is being driven by the progressive global loss of confidence in fiat currencies, conventional banking, and competing assets. I enjoyed discussing $MSTR and the outlook for $BTC with @MorganLBrennan today on @CNBCOvertime.pic.twitter.com/X0jn4pyhCt
— Michael Saylor⚡️ (@saylor) May 2, 2023
Michael Saylor also commented on Silvergate and the wider banking crisis.
Saylor stated that what happened to Silvergate Bank was a great misfortune, "It is a very, very difficult situation for any bank with a large portfolio of long-term bonds." said.
One of the staunchest Bitcoin maximalists, Michael Saylor led his company to invest in Bitcoin in August 2020. The company currently holds 140,000 Bitcoins.
*Not investment advice.