Once again Michael Saylor passed his comment in favor of Bitcoin and suggested having bitcoin will be the best option in a retirement portfolio.
Michael Saylor is the chief executive officer of the business intelligence firm Microstrategy. Michael himself is a big bitcoin believer and he continuously buys Bitcoin to add Bitcoin funds to the balance sheet of Microstrategy. He aims to make his company a multi million Bitcoin holder company. At present, the company holds around more than 1,25,000 bitcoins.
During the conference on the event of Q1 earnings calls, Michael Saylor said that Bitcoin is a far better asset than Gold.
Michael said that it will be incomplete to consider Bitcoin as a Digital Gold because it is very hard money of history and if you want to leave something for your next generation then surely you have to own it in retirement funds.
Further, Michael dragged the 401(k) services of Fidelity investments, which provides retirement funds saving accounts for the majority of the big companies of the US, which recently proposed to bring some bitcoin funds into the retirement funds.
“it’s a very, very compelling element of a 401(k)… What have I wanted to hold some kind of commodity money that’s better than a commodity because no one can make any more of it and Bitcoin is that thing.”
On the launch of Bitcoin in 401(K), Micheal said that it is a point where people can think about it, whether it is risky or not. Michael indirectly hinted that Bitcoin is very less risky because it is going under retirement saving funds.
“The 401(k) launch was kind of the shot heard around the world here because what’s going on here is people are going to have to stop and think about this and either this is the least risky thing you can put in a retirement portfolio or it’s too risky to put in a retirement portfolio.”
Michael also asserted that people should have study on Bitcoin to come to know about the real Concept and technology to understand the reality of Bitcoin. Microstrategy CEO also said that the Introduction of Bitcoin under 401(k) by Fidelity Investments is a kind of initiative to push people to study Bitcoin.
At present, Microstrategy holds a total of 129,218 Bitcoin, which is of worth $5.12 billion. Micheal also stated many times that the company has no plans to sell Bitcoins but may consider using it in some activities to generate some revenue for the company.