It can be said that Michael Saylor of Microstrategy has led the way to people like Elon Musk and who knows how many others whose investment strategies we do not know, for the arrival in the crypto market of the so-called "big players". Although Saylor previously snubbed Bitcoin as a classic "bubble", he quickly turned into a follower of digital currency by buying large volumes of the asset.
In a recent interview released while recording a podcast about Bitcoin, the CEO of Microstrategy hosted the Bitcoin for Cooperation conference, where he introduced Bitcoin to corporate America, welcoming over 85.000 attendees and 7.000 companies including SpaceX himself. by Elon Musk, Marathon and many more.
Institutional actors are taking off
Saylor, fascinated by the new companies that have made their Bitcoin investment public, noted that the recent acquisition of $ 150 million Bitcoin by the Marathon patent groups was a huge deal for the industry.
Saylor's response to the kind of reaction his speech elicited from companies was very positive. “My impression was one of surprise at the enormous enthusiasm generated,” he said. Adding that “When we started in August, we were the first public company to take such a serious commitment to Bitcoin, and then Square followed suit. And then when Tesla did it too, now there are four public companies in a row that have made quite substantial commitments ”.
Bitcoin reaches the mainstream audience
Although there are still critics making bearish forecasts here and there, Saylor says the market is enthusiastic and supportive of traditional companies that are on the way.
Crown Tesla the most successful title of the year (Tesla shares - ticker TSLA), a title that certainly befits the electric vehicle company that has already secured $ 1 billion in less than a month since its purchase of Bitcoin.
According to Michael Saylor, February 8 saw the real turning point, namely when Bitcoin as a reserve asset for treasure "crossed the border line that separated the Crypto community from the rest of the traditional financial world".
Meanwhile, Saylor is also optimistic in his on-chain analysis, suggesting that if miners lose interest in their Bitcoin holdings and start acquiring Bitcoin via debt, Bitcoin will take a huge leap forward.
“What happens when all publicly traded Bitcoin miners stop selling bitcoin and start buying it to keep it, using publicly issued stock and debt to cover their expenses? The stock of BTC will go to infinity first, in order to become negative. "
The reactions of miners to the bull market have been indicative of the possibility that they are not interested in exposing Bitcoin as much as in keeping their current holdings. According to on-chain data, Tesla's Bitcoin purchase may have influenced this decision.