Michael Saylor, founder and CEO of MicroStrategy, one of the most popular bitcoin investment companies, believes in the power of bitcoin and continues to invest in it whenever the opportunity presents itself.
Recently, Saylor noted that Ethereum and some other cryptocurrencies have a deserved place in the crypto ecosystem.
Ethereum has its place:
Ever since MicroStrategy began buying massive amounts of bitcoin, which Saylor has done for himself as well, the company’s CEO has become a major bitcoin fanatic.
As such, he has rarely discussed any digital currencies other than Bitcoin, and he has rarely had anything positive to say about altcoins.
But, unusually, in a recent interview with “Fast Money” on “CNBC”, “Saylor” appeared optimistic about some alternative cryptocurrencies, especially Ethereum.
Saylor described the Ethereum network as a digital application that wants to decentralize banking institutions, and all exchanges.
There is a place for the Ethereum blockchain and its original cryptocurrency.
Similarly, Saylor also sees stablecoins also having a place in the ecosystem and compares them to upcoming central bank digital currencies, where they could have a somewhat similar role.
Bitcoin is better than gold:
Aside from his brief praise of Ethereum and stablecoins, Saylor highlighted the advantages of Bitcoin over all other investment vehicles as he has done so many times in the past.
He justified his company’s decision to buy more bitcoin after raising funds by selling $1 billion worth of Class A common stock by calling bitcoin the most appropriate investment vehicle in times of rising inflation, stating:
I think in the last 12 months, we’ve all been waiting for inflation, and I think we’re seeing it now.
I think investors are seeing bitcoin up 330% and gold up 7% in that period.
Therefore, Bitcoin outperforms gold as an inflation hedge by 50 times.
So, you see Paul Tudor Jones and other early Bitcoin believers thinking, maybe it’s time to double-allocate or triple what they invest in Bitcoin.
I’m surprised they don’t want to allocate and 10 times what they invest in bitcoin because bitcoin is 50 times better than gold.
Saylor concluded that although Bitcoin is considered a risky asset compared to other assets, investing in Bitcoin and the growth of the portfolio makes investors and shareholders happy.