Michael Saylor says he believes MicroStrategy’s deal with bitcoin has increased the logo and claimed that politicians calling for greater vigilance over cryptocurrencies fully perceive the market.
The Virginia-based company was among the first establishments to invest in the world’s largest virtual asset, first only money on its balance sheet. Saylor’s company has even taken on debt to increase its bitcoin inventory.
“Bitcoin has done wonders for our logo. It’s multiplied our logo by a hundred,” the MicroStrategy CEO told CNBC on Friday. “Obviously, this has generated billions of dollars for our shareholders over the more than 12 months. “
Saylor called bitcoin a “door opener” and a “conversation starter,” especially when it comes to top company executives.
Even though bitcoin continues to be in the industry sideways after a big drop in May, Saylor remains optimistic about the asset, even compared to investing in bitcoin with investing in the early days of Facebook, now a social media giant with a market capitalization of $1,000 billion.
“If you borrow billions of dollars at 1% interest and invest them in the next Big Tech virtual network you envision, the major Amazon, Google or Facebook, why wouldn’t you?”Saylor told CNBC, “I mean, if I could borrow a billion dollars and buy Facebook ten years ago at 1% interest, I think I would have done very well. “
Cryptocurrencies have been at the peak in recent weeks, and lawmakers called for more oversight. Among the critics, Sen. Elizabeth Warren said cryptocurrencies are separate from the economy at large and are reliable hedges that oppose long-term inflation.
He continued: “It would take a thousand hours to fully perceive [bitcoin]. I think right now, each and every politician in the world is being asked for an opinion on this, and I doubt that each and every politician has a thousand hours to think about it or examine it. “