MicroStrategy CEO Michael Saylor has come out to disclose that the company believes in Bitcoin (BTC/USD), and the cryptocurrency is the most transformative force of the decade.
He shared the firm’s outlook on the leading crypto by market capitalization during an interview on February 2, adding that MicroStrategy intends to continue to acquire and HODL BTC.
According to Saylor, MicroStrategy’s faith in BTC comes from the fact that inflation plagues the world. He highlighted Lebanon’s case in which consumers lost 93% of their wealth because of currency devaluation.
Saylor pointed out that this is becoming a trend, with Argentina suffering the same fate and Turkey is inching closer to following suit.
Apart from inflation, he pointed out that the internet is also rife with scammers, spammers, and surveillance problems, among other challenges. He gave an example of Twitter, saying over 390 bots using his name cropped up in less than 30 minutes yesterday. To this end, he suggested that both Big Tech and Big Finance need a solution.
He went on to share that Jack Dorsey, the CEO of Block, who was a keynote speaker at MicroStrategy’s Bitcoin for Corporations conference, believes the world needs a digital property that is open, permissionless, fair, and ethical. Touting BTC, Dorsey said it is the closest the world has ever come to having a native currency for the internet.
MicroStrategy to continue juggling its software business with investing in BTC
Sharing the direction MicroStrategy intends to take after missing expectations in its Q4 fiscal report, Saylor said the firm plans to continue running its enterprise software business. According to him, the business had the best year in a long time, with revenues climbing 6%
