Hours after stepping down from the role of CEO of MicroStrategy, Michael Saylor made interesting comments on the company’s Bitcoin strategy. He tweeted earlier that in his next job, Saylor’s focus would be more on Bitcoin. He also stated that Micrstrategy had greatly benefited from adopting a Bitcoin strategy two years ago. “Since adopting a Bitcoin Strategy, Microstrategy has outperformed every asset class and big tech stock.”
Microstrategy former chief executive officer Michael Saylor said the company’s Bitcoin strategy helped it weather the financial storm of currency devaluations. The strategy also helped the company with an increased visibility to great extent and also financial flexibility, he added.
“Volatility is vitality.” Saylor said the volatility in crypto markets could reduce gradually in the next four to eight years. He made a direct correlation between volatility in crypto and clarity in regulatory issues pertaining to the digital assets ecosystem. The volatility would also depend on the awareness of crypto in the market, he added.
Microstrategy Bitcoin Holdings Helped Company’s Visibility
Saylor said the company’s Bitcoin strategy has put it right up along big techs like Microsoft and SAP in terms of volatility. He added that the Bitcoin part of Microstrategy’s operations is in fact a benefit in that it helps in marketing and sales. Overall, the Bitcoin strategy is a net positive for Microstrategy‘s enterprise software business, he explained.
The Bitcoin maverick also responded on the new senate proposal that gives the CFTC oversight on policing Bitcoin and Ethereum. “Everybody in the world wants digital property. Every regulator would be interested in the crypto ecosystem. A set of regulations is going to be good for the crypto industry.”
Regulation To Benefit Bitcoin: Michael Saylor
Saylor stressed on the importance of regulation in bringing in big institutional investors to the crypto industry. There are many big investors who are afraid to invest in crypto until they understand the rules of the road, he said. “As the regulators sort out the rules and provide clarity, it will be great for Bitcoin.”
Speaking on Microstrategy’s Bitcoin strategy going forward, he said executives across the company are unanimously committed to it. On many instances in the past, Saylor said Bitcoin would achieve phenomenal success in the long term. “As long as the price of Bitcoin does not get to zero, it will get to a million,” said Saylor in June. He believes in Bitcoin reaching a huge upward price movement in long term and is often vocal about it.