Michael Saylor Declares Bitcoin the 'Manhattan in Cyberspace'

Summary:

Michael Saylor compares Bitcoin to "Manhattan in cyberspace" as a timeless asset.
Bitcoin's capped supply and status as a global digital commodity highlighted.
MicroStrategy's stock has surged 465% year-to-date, outperforming the S&P 500.
Company plans to issue stock to purchase more Bitcoin, aiming for higher returns.
Saylor criticizes Warren Buffett for not investing in Bitcoin, suggesting capital loss.

Michael Saylor's Vision on Bitcoin

Michael Saylor, executive chairman and co-founder of MicroStrategy, recently described Bitcoin as the "Manhattan in cyberspace" during an interview with Barron's. He emphasized its unique characteristics, particularly its capped supply and status as a global digital commodity.

"Bitcoin is actually a way to store value without a trusted intermediary. I'm putting my money in cyberspace, and I want to transform the capital from financial and physical to digital," Saylor stated.

He elaborated, stating that Bitcoin is indestructible, immortal, and invisible, free from the burdens that typically affect the value of physical assets.

The Shift of Wealth

Saylor likened the flow of money into Bitcoin to a transition from the 20th century to the 21st century. His company's strategy of investing in Bitcoin has greatly influenced its stock performance, showing a 465% increase year-to-date, significantly outperforming the S&P 500's 27% gain. Over the past two years, MicroStrategy's stock has surged by an impressive 1,773%.

MicroStrategy's Bitcoin Strategy

Saylor mentioned that MicroStrategy plans to issue stock to purchase more Bitcoin, believing this strategy will yield returns exceeding those of the S&P 500. He referred to the company as a “Bitcoin treasury company,” indicating that its treasury operations are now more profitable than its software business.

Saylor's Advocacy for Bitcoin

Saylor has consistently advocated for Bitcoin, highlighting its potential as a valuable asset. He disclosed that MicroStrategy is currently generating $500 million daily from Bitcoin as its value approaches $100,000. He also criticized Warren Buffett for not investing Berkshire Hathaway’s cash reserves into Bitcoin, arguing that it has led to significant capital loss.

In his view, MicroStrategy has positioned itself as a key player in the Bitcoin space, branding itself as the “public equity play on Bitcoin maximalism.”

Market Performance

As of the last trading session, MicroStrategy's stock closed at $387.47, with a slight decrease of 0.35%. The stock remains highly rated with a consensus rating of "Buy", and analysts have set the highest price target at $690, suggesting a 16% upside potential.

Michael Saylor