In a recent interview, MicroStrategy CEO Michael Saylor expressed confidence that Bitcoin will become the digital equivalent of gold and grow as an investment asset.
Saylor told CNBC that he expects more institutions to adopt Bitcoin as a crucial investment asset in their investment portfolios in the coming months. The CEO of what is currently the company with the most The biggest investment in Bitcoin, worth over $5.200 billion to date, believes Bitcoin is consolidating as the digital equivalent of gold and that, as the cryptocurrency rises in price, more institutions will be attracted to integrating it into their balance sheets, adopting Bitcoin as a reliable store of value.
“If it is a legitimate institutional asset, then everyone is under-allocated to it”, Saylor said during the interview.
By underallocated, Saylor means that no institution or investor has enough exposure to Bitcoin, at present.
Bitcoin could reach a value of $1 million
For MicroStrategy CEO, Bitcoin has the potential to reach a value of $1 million per BTC.
Saylor expressed confidence that the price of Bitcoin could go into the stratosphere, in the future, after the boost that could be given to it by expected approval of a Bitcoin spot ETF by the SEC. Saylor believes that the positive developments in this area in recent weeks highlight Bitcoin's status as a business asset.
In addition to this, Saylor pointed out that the legitimization and recognition of Bitcoin by countries such as El Salvador and other economies, and the global macroeconomic situation, are catapulting the price of Bitcoin, which has gained more than 150% in the last year.
Outstanding performance
On his decision to invest his company's excess cash in Bitcoin and not another asset class, Saylor has stated that this is your best decision.
This week, the founder of one of the world's largest enterprise software companies said he had chosen his "fighter" Bitcoin well. MicroStrategy has earned a 253% return since first investing in cryptocurrency, in August 2020.
Saylor compared the returns of other assets such as S&P 500 and Nasdaq stocks, gold, silver and bonds over the same period. However, all of these have been dwarfed by the gains from his Bitcoin investment.
However, while the returns generated by the cryptocurrency have been higher than those of other investment products, Saylor believes that Bitcoin's overall impact on the market is still very small, mainly because most investors and companies are still betting on traditional investment assets.
To change this reality and unlock the potential of Bitcoin as an innovation for digital transformation, it is necessary more education, to raise awareness about the potential and advantages that Bitcoin offers to the world.
Continue reading: The reasons that will drive the price of Bitcoin, according to Michael Saylor
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