“I don’t see reasons to not keep Bitcoin for 100 years,” says Michael Saylor
Many Bitcoin enthusiasts recommend that the best strategy with regard to cryptocurrency is to buy and store, the famous hold. But Michael Saylor, CEO of a business intelligence firm MicroStrategy, went further. According to him, investors should never sell their BTCs.
As Saylor pointed out, BTC has a unique potential to evolve into what he called the “future of ownership”:
“Some people think that diversification means buying other types of cryptocurrencies or other types of stocks. But we think that by keeping Bitcoin, we’ve diversified. This is because we can see Bitcoin in the balance sheets of cities, states, governments, companies, small and large investors”, he said.
Unlike traders who buy and sell Bitcoins in search of profit from fluctuating prices, the holders are those who keep their BTC regardless of the change in their value. In this case, the objective is to profit in the long term, keeping the cryptocurrency as a store of value.
However, Saylor believes you shouldn’t sell Bitcoin even in the long run. After all, the executive is betting that the cryptocurrency will be the nucleus for the technological innovation of the new society.
The BTC will be integrated, according to him, in states as well as in large companies such as Apple, Amazon and Facebook.
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The CEO argued that Bitcoin is the key to solving endemic problems with cybersecurity and spam.
“If you want to improve the user experience on social media and interconnected platforms, you need security that cannot be centralized. The killer app is cybersecurity integrated into an international trust network: Bitcoin,” he said.
In this regard, Saylor recommends that Bitcoin investors keep their cryptocurrencies for at least 100 years. That’s because a survey he conducted revealed that people believe Bitcoin will last 3,500 years.
“What we want to maintain is a form of non-sovereign reserve of value forever […]. I did a survey: the average Twitter user thinks [Bitcoin] will last 3,500 years. Nobody is in a hurry with Bitcoin. We are thinking that this is the future of property”, he revealed.