MicroStrategy’s Michael Saylor has been boosting Bitcoin like there’s no tomorrow. Check out what he had to say lately about the price of the king coin.
It’s been just revealed that Saylor is explaining why he’s bullish on Bitcoin to the corporate world.
In an interview at MicroStrategy’s World Now Summit, Saylor talked about BTC’s advantages in an increasingly digital era.
Bitcoin can save companies
The CEO says he believes Bitcoin can save companies from incoming inflation, allow them to plug into a revolutionary and superior monetary network, and that, in his mind, the cryptocurrency will become a multi-trillion dollar asset.
“…We realized that we needed to find a way to virtualize our money because the financial response to the pandemic is one of monetary expansion, and the monetary expansion has created inflation and the asset inflation has created a stampede to a new monetary system, a better monetary system…” he said.
He continued and revealed that “[BTC] may very well become north of $100 trillion in monetary value. And every company has a treasury that would benefit from plugging into it. And every financial company would probably benefit from plugging its products or financial services in this network…”
He also believes that corporations could protect their cash reserves by placing Bitcoin on their balance sheet. The Daily Hodl reports that the CEO is confident that a few firms will do this in the upcoming year.
“The simple solution is to convert some of that cash into Bitcoin. We did it, Square did it. You’re going to see an avalanche of companies in the coming 12 months also converting their balance sheets into Bitcoin because it’s a scarce digital safe-haven asset,” he explained.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $37,461.74. Stay tuned for more news.