Michael Saylor of MicroStrategy wants to hold on to bitcoin for 100 years, there is nothing better

Michael Saylor of MicroStrategy wants to hold on to bitcoin for 100 years, there is nothing better

In an interview with Raoul Pal, CEO of Real Vision, Saylor MicroStrategy says he can’t think of a reason why people are selling their bitcoins now.

Who is crazy enough to sell?

Who are these people selling it to me? I can’t believe anyone is willing to sell it to me. But I thank the stars. I’m like, hit me again, hit me again, hit me again. ‘

Since the announcement that his company MicroStrategy bought bitcoin for USD 400 million, Saylor has been accused of having a weak stomach. But nothing could be further from the truth.

I see these guys on crypto Nation Pro Twitter. And they say, ‚Yes, Saylor is buying bitcoin and he is going to dump it. He’s going to buy it and then he’s going to buy another company with it. He’s going to buy it until he makes a profit.‘

Long term

There are many traders on the market. They do not understand the long-term mentality. I buy it for the guy who is going to work for the guy who is going to be hired by the guy who is going to take over my job in 100 years‘ time. I am not selling it. If it rises by a factor of 100, I might borrow a little to buy something I want, but what am I going to buy with it that is better than what I buy‘?

Every other asset, and I count $250 trillion worth of assets such as gold, fixed income, government debt, cash equivalents, every other treasury bill has a negative real return. What am I going to buy with it? There is nothing else to buy‘.

Bitcoin is liquid

Saylor says that Bitcoin is a much better long-term asset than gold, not only because it is more liquid than the precious metal, but also because the price is independent of the number of people participating. This has happened many times in the last 100 years, Saylor says, taking the price of oil as an example.

We produced five million barrels of oil a day in this country and everyone said, oh my God, the price of oil goes up to USD 100 a barrel. It is a crisis. We have waged wars over this. We have waged wars to protect our oil interests because we thought the western world would suffocate if we did not have access to cheap oil from Saudi Arabia‘.

So what happened? The price of oil went up. Do you know what happened when it cost USD 100 a barrel? Big banks form conferences and they would bring together wealthy individuals with the following promise: ‚You know there is an opportunity to invest billions of dollars in these new fracking operations and they can pay oil for 45 or 30 dollars a barrel. The price is 100 dollars but we sell it for 70, 80, 90 dollars a barrel‘.

Bitcoin is liquid

Saylor also said that bitcoin is more liquid than gold.

You can move liquid capital from Amazon to Apple to bitcoin. You can’t move gold mining capital. It only does one thing, which means my knees are buried in the concrete, and all I know is how to make more gold‘.

This is not speculation, nor is it a hedge. It is a deliberate business strategy to apply the Bitcoin standard‘.

Bitcoin over 100 years of best collateral

Saylor says that bitcoin is the best collateral in the world and cannot even be compared to gold or other commodities. He told Pal that if you hold USD 100 million in cash for 100 years, you lose 99% of that, and if you hold in gold, you still lose 85% at best.

After considering a variety of options with a prospect of 100 years, Saylor decided that Bitcoin was the only option. Taxes and transaction costs kill almost all other assets, and those that are not killed are crippled because they are controlled by a CEO, a government or a country.