Michael Saylor, CEO of MicroStrategy, says institutional interest in Bitcoin is in a snowball. He predicts that in the coming year a flood of companies will follow the example of MicroStrategy to adopt Bitcoin as a treasury strategy.
It is more interesting that Saylor claims contact with at least a hundred private companies that have already implemented this strategy. However, given the lack of disclosure requirements for private companies, they choose not to disclose this information.
“I think a lot of companies will do this in the next 12 months and you will see more announcements. Because it is an idea whose time has come. I have seen a lot of interest, there are many private company directors reaching out to me , and they already have, they just don’t make any announcements. ”
Hostess Laura Shin pressed for details on these private companies. Saylor responded that their valuation ranged from hundreds of millions to companies valued in excess of a billion dollars. Although his network consists mostly of American firms, he said this is a pattern that is reflected across Europe, the Middle East, and the Far East.
“Sometimes billions of dollars plus. I mean billions, several billion, five hundred million, one hundred million. There are many companies in this sweet spot. In general, everyone speaks to everyone. ”
$ 1.9 trillion stimulus deal in the works, cue Bitcoin as hedge
MicroStrategy was the first publicly traded company to acquire significant stakes in Bitcoin back in August 2020.
Since then, its CEO Michael Saylor has preached tirelessly about the benefits of buying Bitcoin. He’s talked about it at length, especially why he thinks it’s the piece that needs to be done in these uncertain times.
A quote from an interview with Anthony Pompliano shortly after the first takeover of MicroStrategy summarized his reasoning.
“The problem is, I have a lot of money and I’m seeing it melt … [On investors] You are smarter than me, I’m not joking, I’m serious, you are smarter than me. They knew before I knew cash was rubbish and you’re a fool to sit on money. ”
Months later, this is a message that is gaining momentum in the minds of people around the world. In addition, the threat of inflation, economic stagnation and crippling deficits becomes even more real as there is no end in sight to monetary pressure policy.
Newly elected US President Joe Biden arrived at the White House a week ago today with plans for a new stimulus package worth $ 1.9 trillion. Mainstream outlets, including the FT, despised the plans. But what else can you do to keep the system going?
“The average person understands that there is no such thing as free lunch. The road to wealth can’t be as simple as just printing and spending. If he relies on low interest rates to fund further massive government spending hikes, Mr Biden will redouble his policies that have magnified the problems he seeks to fix: weak growth, financial instability and mounting inequality. ”
Institutional buyers’ interest in Bitcoin is a confirmation from the corporate world that the future can get hectic. The flood Saylor is talking about shows the extent to which self-preservation is becoming a priority for these companies.
Source: BTCUSD on TradingView.com