Michael Saylor said that in his opinion bitcoin is not a currency, but a property. The CEO of MicroStrategy spoke in connection during the Milano Finanza Digital Week online event organized by Class Agora, in the session “Cryptocurrencies, beyond monetary sovereignty and sustainability”.
“Bitcoin is not a currency. To be a currency it should be transferable with a tax rate. We need to understand that in the current situation, money is currency, a component of exchange. Then there is more to it than it conserves value: once it was debt. sovereign, then it was gold, which has not been so for ten years, and another way has been sought such as real estate. Bitcoin is a way to conserve value, it is a property”. “Understanding this, this difference between currency and property – continued Saylor – the future will be made up of a part of digital currencies, regulated, then there will be digital assets and the most important is bitcoin”.
Saylor reported that the company owns “I think 105,000 bitcoins, that is between 3 or 4 billion dollars in bitcoins. We bought them – he explained – because we had 500 million dollars that we were losing value for our shareholders and instead of burning the value we have thought of converting it into an asset that would appreciate faster and we did the right thing: we created $ 4 or $ 5 billion for our shareholders. We will continue to keep $ 50 million for cash flow – he concluded – and what plus we put it in bitcoin, it is our reserve. I think we will keep it forever, it is a long-term asset, with volatility that flattens out over time”.
