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Bitcoin Purchases By Major Corporations Shouldn't Be Feared According To Michael Saylor

2023-08-14 15:59:35

In an earlier podcast interview, Michael Saylor outlined three key factors that drive the demand for custodians and said that organizations purchasing and maintaining custody of Bitcoin should not be feared.


MicroStrategy's Michael Saylor recently stated on a podcast that huge companies buying and keeping Bitcoin in their possession shouldn't be a reason for alarm. Saylor stressed the inevitable growth of third-party and corporate activity in the Bitcoin space when chatting to Natalie Brunell on the Coin Stories podcast, which was broadcast on August 7. Saylor mentioned that custodians are required for three main reasons: technological, political, and functions.

He did add, however, that given that people would use Bitcoin for a variety of objectives, ultimate self-control or sovereignty over one's Bitcoin might not be the best option for Bitcoin fans. Saylor claimed that as Bitcoin grows more ingrained in society, it will have a variety of use cases and there won't be a one-size-fits-all model. We ought to be preparing Bitcoin and incorporating everything, he continued.

Saylor's MicroStrategy Wants to Sell $750 Million Worth Of Stock And May Perhaps Purchase More Bitcoin

Technically speaking, there will be users who want to conduct cryptocurrency transactions using their mobile devices; as a result, Saylor added, it will be necessary to trust layer-3 third parties like Bank of America and Apple. Saylor raised the concept that some people might feel comfortable entrusting their riches to others for natural reasons.He used the case of an 85-year-old with Alzheimer's or the wish to protect assets for an unborn grandchild as examples.

“When I was twelve years old and didn't have the car key”, Saylor said, “I didn't complain that my parents had the keys.” From Saylor, the market will choose the best combination of Bitcoin integrations. The company formed by Michael Saylor presently possesses 152,800 Bitcoin, valued at $4.5 billion at the time of writing. In the second quarter, it added 12,333 Bitcoin, and another 467 in July.

On August 1, MicroStrategy Chairman Michael Saylor said to investors, ”The goal we have is to find ways to produce progressive Bitcoin for the benefit of our shareholders and do that with both cash flow from the business or do that through intelligent beneficial financings of equity or debt or do it through other intelligent operations.“

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