Business intelligence company MicroStrategy has long held onto its belief that bitcoin has a massive and unique long-term potential. Recently, MicroStrategy’s CEO Michael Saylor defended this stance, declaring that his company’s strategy is the future of bitcoins. Saylor stated that there is no need to rush when it comes to the bitcoin market. His company is pursuing a strategy with the lowest risk and highest reward by not diversifying and holding onto bitcoins. Considering that crypto users have only doubled this year, according to a study by Signalscv.com, what Saylor is saying might just be true.
In his Bloomberg TV interview, Saylor explained his company’s move to borrow $2.2 billion to hold onto bitcoin. Essentially, MicroStrategy believes that bitcoin will be at the core of tech innovation in the coming years, from Apple to Amazon and even Facebook. Instead of diversifying by purchasing other cryptocurrencies, MicroStrategy is tracking the growth and popularity of bitcoins. According to them, bitcoin is currently seen on the balance sheets of everyone ranging from small to big investors, companies, and even governments.
When asked what social media giants like Facebook and Twitter have to gain from integrating with bitcoins, Saylor made quite a few interesting points. One of them is that the biggest issues plaguing social media giants – like spam accounts and cybersecurity – can be solved through bitcoin integration. Along with Lightning Network to support micropayments, bitcoins can work to create a trustworthy ecosystem founded on creditworthiness. This will take user experience on these apps to a new level by combining cybersecurity with a trusted network based internationally.
The projections for bitcoin’s potential, in the long run, are based on two things – one, its ability to support newer functionalities on the internet, and two, its capacity to evolve and adapt to the future. MicroStrategy expects that being a network that’s open property works in bitcoin’s favor. It is on its way to be used by billions in the coming years and has a value that will last for a long, long time, possibly forever. In Saylor’s words, bitcoin is “the future of property.”
Going by the increase in numbers of bitcoin users over the world, these projections might just turn out to be true. Despite other cryptos like Ether (ETH) eating into bitcoins’ market share, the original cryptocurrency remains unstoppable at the top.