MicroStrategy CEO and Bitcoin bull Michael Saylor says buying Bitcoin could save Tesla and other Fortune 500 companies billions of dollars.
Saylor’s business intelligence company, MicroStrategy, aims to own over $ 1 billion worth of Bitcoin and suggests other companies with billions in cash funds follow their lead.
In an interview with HyperChange, Saylor warns that companies like Tesla that have billions of dollars in cash reserves should be racing to buy Bitcoin. If they don’t, they lose half of that spending power in the next three years, says the Bitcoin advocate.
“[Big companies are] eventually going to need [Bitcoin]. You have $ 20 billion dollars worth of financial energy today. It loses 15% of its purchasing power a year. You’re going to lose half of that energy in 36 months unless you protect it.
If you put it in Bitcoin, instead of losing half your buying power, you can reasonably expect to double your purchasing power each year for the next three years, so why not put in $ 1 billion and it will be worth $ 8 billion in three years. . If you keep all the money, you are guaranteed to lose $ 10 billion in purchasing power. It is a guarantee …
If Tesla donates $ 1 billion dollars [into Bitcoin] they will double their money within 12 months. If they put in $ 2 billion, they will probably generate $ 10 billion in earnings. By the way, anyone could do it. If you’re a billionaire hedge fund guy, you put a billion into Bitcoin, just put it out on the wire and tell you to do it. ”
Saylor points out that, unlike many other assets, Bitcoin becomes less risky as its price increases.
“Bitcoin is a dominant network that can’t be stopped … 99% of investors don’t understand it, but once they understand it, they all have to join it and they are going to press through and they are going to offer the price up.
He creates this virtuous circle. You buy it, the price goes up. It is becoming more valuable. More people want it. There is more adoption. The price goes up … So, the higher the price goes, the better it gets. Which is the opposite of most companies where the higher the stock goes, the more risky it gets. The higher the price of Bitcoin goes, the less risk it gets. ”
Companies like Tesla should seriously consider jumping into the king of crypto now, Saylor said, because as each new company seeks to invest $ 1 billion in BTC, the next company to follow the same will pay double for it.
“The sooner you join, the better off you are. And as people join, it becomes more powerful and the price goes up. If you’re a Tesla, you want to be first because Apple will pay twice as much, and then Google will pay twice as much, and Facebook will pay twice as much and eventually everyone has to sign up because if you don’t sign up, you’re going to lose 15% to 20% of your purchasing power … And in this particular case, Bitcoin is the obvious answer and as people begin to realize it, it’s going to accelerate transition and adoption rate. “
l
Don’t Miss a Beat – Subscribe to receive crypto email alerts directly to your inbox
Follow us on Twitter, Facebook and Telegram
Disclaimer: Opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. You are advised that your transfers and trades are at your own risk, and that any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is the Daily Hodl an investment adviser. Note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock / TWStock