Bitcoin
BTC$39 040.88

-7.22%

Ethereum
ETH$2 879.38

-8.41%

Tether
USDT$1.000246

-0.01%

Binance Coin
BNB$430.41

-8.67%

USD Coin
USDC$1.000181

-0.07%

Cardano
ADA$1.23

-8.92%

There’s no reason not to hold Bitcoin for 100 years


02 Aug 2021

#Bitcoin

Nobody is in a hurry with Bitcoin, according to MicroStrategy CEO Michael Saylor: “We’re thinking that it’s the future of the property.” Michael Saylor, CEO of business intelligence firm MicroStrategy, has staunchly defended the company’s bullish, long-term Bitcoin (BTC) position based on its unique potential to evolve into “the future of the property.” In an interview with Bloomberg TV, Saylor argued that MicroStrategy’s big bet on Bitcoin, which it has turned to the debt markets to sustain, is the “highest upside, lowest risk strategy” the company can pursue.

“Some people think diversification means buying other types of cryptocurrencies or other kinds of equities,” he said. “We think that by holding Bitcoin, we’re diversified. Because we can see Bitcoin on the balance sheets of cities, states, governments, companies, small [and] big investors, ultimately, Bitcoin is going to be the core to tech innovation at Apple, Amazon and Facebook, so we want to be holding the Bitcoin.” 

In response to his interviewer’s probing as to how the interests of large, centralized behemoths such as Twitter and Facebook can be reconciled with a decentralized network, Saylor made the case that Bitcoin holds the key to solving their endemic issues with cybersecurity and spam. Integration with Bitcoin — and, specifically, the micropayment-supporting Lightning Network — could tackle these by incorporating an ecosystem that can vouch for creditworthiness and trust:

“If you want to improve the user experience [on these tech platforms], then you need to have skin on the game. And Bitcoin provides skin in the name for all of the interactors in the cyber environment. Dorsey understands this. The killer app is cybersecurity integrated into an international trust network.”

Saylor’s projection for Bitcoin’s long-term potential appears to be balanced between this capacity to support new functionalities on the web and to evolve into the future of the property. The reason MicroStrategy has leveraged long on Bitcoin — for which it has controversially borrowed $2.2 billion at a blended interest rate of about 1.5% — is that the firm anticipates that Bitcoin, as an open property network, will be used by “billions of users.” While the firm currently takes a 10-year view, Saylor’s comments suggested his perspective is long in a truly maximalist sense:

“People joke that Bitcoin isn’t really a trading strategy, it’s an exit strategy. What we want to hold is a form of non-sovereign store of value forever [...] I took a survey: the average Twitter user thinks it’s going to last 3500 years. Nobody’s in a hurry with Bitcoin. We’re thinking that it’s the future of property.”

In the interim, the coin is nonetheless also meeting the needs of retail traders, Saylor observed, noting that cryptocurrencies in general offer users of apps like Robinhood the unique possibility of trading 24/7, 365 days a year. In his view, it “makes total sense” for Robinhood to drive hard and up its support for the new asset class. Yet among digital assets, Bitcoin, as the “risk-off king of all the cryptos,” is, for Saylor, still “where all the traffic and excitement is.”

According to the results of a recent study from Crypto.com, the number of crypto users worldwide more than doubled from 100 million this January to 221 million in June. While Bitcoin retains the lion’s share of users, smaller altcoins have slowly eaten into both the veteran coin market share and the market’s second-most popular crypto, Ether (ETH).


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 68.8% 62 $39 040.88 -7.22% -8.43% $739 272 698 192 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 65.6% 78 $2 879.38 -8.41% -11.89% $343 362 353 655 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000246 -0.01% -0.01% $78 293 819 854 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 56 $430.41 -8.67% -10.53% $71 067 234 301 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000181 -0.07% 0.06% $42 323 176 462 USDC 7 days price change
6 Cardano (ADA) ADA Cardano predictions 77.2% 49 $1.23 -8.92% -3.24% $41 335 207 166 ADA 7 days price change
7 Solana (SOL) SOL Solana predictions 60.4% 87 $123.76 -9.49% -15.76% $38 925 443 034 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 67.6% 59 $0.693543 -6.81% -11.08% $33 056 440 033 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 71.6% 58 $77.96 -5.52% -1.68% $27 793 156 881 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 75.6% 48 $22.57 -8.15% -15.86% $22 288 386 456 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 50 $0.153937 -6.61% -21.88% $20 422 994 619 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 62.8% 77 $76.66 -9.52% -14.89% $18 732 789 600 AVAX 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000826 0.14% 0.07% $14 330 648 641 BUSD 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 70% 64 $1.91 -7.86% -15.40% $14 245 685 054 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 68.8% 68 $0.000026 -7.36% -17.83% $14 156 578 796 SHIB 7 days price change

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