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MicroStrategy CEO Saylor: Of the tokens, 99% will fail, excluding Bitcoin.

Bloomberg HT Journalist Ali Cinar interviewed Michael Saylor, the CEO of Microstrategy. Saylor said that he thinks Bitcoin will survive, unlike most other digital assets.

CEO of Microstrategy Michael Saylor evaluated the decline in cryptocurrencies and the future of digital assets to Bloomberg HT. Having stated that, he thinks Bitcoin will survive. Still, most of the remaining assets will not be able to survive. Saylor also said, "There are almost 20 thousand cryptocurrencies other than Bitcoin. The failure rate for tokens, except for Bitcoin, will be 99%."

"Bitcoin is a truly well-engineered decentralized asset, so it will survive," he said. Saylor also emphasized that regulations are required for the cryptocurrency stock exchange, saying, "There is extreme leverage, and with these regulations, they will be further reduced. Besides, it is important for regulators to provide crypto education."

"If you would like to hedge yourself weekly or monthly against inflation monthly or weekly, I have to say that it does not have a safe port strategy in the short term. A thing to do would be to develop a long-lasting strategy. You need to have a strategy that covers four years or more. As for a long-term strategy, different instruments in the basket is a requirement," he added.

Regarding the long-term performance of Bitcoin, Saylor made the following remark: "Considering the periods of two, four or eight years, we can state that Bitcoin has a five to ten times better performance compared to the other alternatives. It showed a better performance than Nasdaq shares, real estate or gold."

Saylor also touched on the regulations issue, commenting, "Bitcoin is actually one of the digital commodities. All of the other 20 thousand cryptocurrency assets are securities. Everything must be explained in these assets as in the other listed companies." They refuse to do this, and problems occur at this point. More transparency will be in question in the next few years because the regulatory authorities have started to work more actively. There is such a transformation, but there are also lots of uncertainties within this transformation. This means if you buy cryptocurrency other than Bitcoin, you take a huge risk.

Asserting that Bitcoin is the best of all digital commodities, Saylor stated that the strategy of Microstrategy is to retain Bitcoin for the long term (longer than ten years). Emphasizing that Microstrategy is already a very profitable company, Saylor also said, "We declared that we bought Bitcoin for an amount of 10 million dollars. We also did this at very different times when we had cash. We are not trying to buy at the bottom and sell at the top. "If you focus on which days will be good or bad, you will fail 98 percent of the time."

  • Published in Economy

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