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Michael Sailor, CEO of MicroStrategy, stated that Bitcoin does not need the help of people like Warren Buffett to become truly successful.
In the past, Buffett, the CEO of real estate firm Berkshire Hathaway, has been quite dismissive of Bitcoin, comparing it to a button on a shirt and even once calling it “rat poison in a square.” His attitude towards digital currency, the world’s # 1 by market capitalization, is very different from that of Sailor, whose company has acquired more than $ 5 billion worth of BTC to date.
Sailor noted at MicroStrategy’s Virtual Investor Day that several other assets have done well without Buffett’s help, and he believes Bitcoin can make a huge difference even if only five percent of the world’s institutions are willing to accept it.
“Warren Buffett has never bought Microsoft stock and has been Bill Gates’s best friend for almost a generation, so if successful investors don’t accept Bitcoin, it doesn’t mean it won’t go up. Microsoft has been pretty successful even without Berkshire Hathaway’s investment. ”
Michael Sailor revealed that he has been following Buffett for over a decade. Over the past year and a half, he has tweeted several quotes from Buffett and, in a joking manner, often linked them to BTC. In addition, he criticized Buffett for not understanding that Bitcoin has value because of its recognition.
During a recent meeting with shareholders, Sailor stated that he is currently looking for ways to profit from the company’s core Bitcoin assets. Over the past year, he has used profits from the company’s core businesses to buy BTC.
One idea Sailor is considering is to allow large enterprises to borrow his firm’s Bitcoin. The company will lend money through staking and thus earn interest. Sailor says:
“This could be a good source of income for us, or we could develop some interesting applications for it.”
Answering a specific question asked by one of the shareholders, he said:
“I think it’s too early for us to tell if there is a good market for Bitcoin-backed bonds, but I look forward to exploring this in the future.”
#Michael #Sailor #Warren #Buffett #Bitcoin