MicroStrategy chief Michael Saylor says Bitcoin is more like digital property than a currency.<\/p>\n
In the podcast<\/a> Coin Stories, he answered a question from host Natalie Brunell on whether the first cryptocurrency poses a threat to the U.S. dollar.<\/p>\n “I would call it digital property. It is a threat to property, especially to other types of property, such as gold and real estate. I don’t think the United States government is threatened by real estate, buildings, companies or gold,” said Saylor.<\/p>\n<\/blockquote>\n Regarding Bitcoin’s volatility, he stressed that even if the cryptocurrency declines in the short term, MicroStrategy has no intention of selling the assets it has accumulated.<\/p>\n According to him, the key is to endure market downturns and FUD<\/span>. As an example, he cited the former Microsoft CEO who did not sell his stake in the company despite repeated price drops:<\/p>\n “What a brilliant thing Steve Ballmer did to reach a $100 billion fortune? You know, he didn’t sell Microsoft.”<\/p>\n<\/blockquote>\n MicroStrategy to convert part of its equity into bitcoin<\/a>, buying cryptocurrency worth $250 million in August 2020.<\/p>\n In December, the firm began using not only monetary resources but also to raise debt capital<\/a> for investing in cryptocurrency.<\/p>\n At the end of June MicroStrategy acquired an additional 13 005 BTC<\/a> for $489 million. The total amount of the company’s digital gold reached 105 085 BTC. This followed the issue of senior convertible bonds worth $500 million<\/a>.<\/p>\n Also MicroStrategy announced an additional issuance of common shares up to $1 billion<\/a>. The funds would be used, among other things, to purchase digital gold.<\/p>\n\n
\n