Michael Saylor says Bitcoin will be a $100T asset class that everybody needs

Bitcoin Conference Draws Cryptocurrency Fans To Miami
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  • MicroStrategy (MSTR -0.5%) CEO and Founder Michael Saylor contends that Bitcoin is the dominant crypto asset network, while "everything else" like "cryptocurrencies" have a large amount of risk and uncertainty around them.
  • He prefers to call Bitcoin "digital property" or a "crypto asset," rather than a cryptocurrency.
  • Bitcoin (BTC-USD) has the highest Sharpe ratio and the highest compounded annual growth rate, Saylor said in a webcast hosted by Tom Lydons of ETF Trends. (A Sharpe ratio aims to measure the return of an investment as compared to its risk.) The world's most popular "digital property" mitigates the risk that large tech companies have, he added.
  • Bitcoin will be a $100T asset class that everybody needs, he contends.
  • Meanwhile, energy used by bitcoin (BTC-USD) miners is highly sustainable, he adds.
  • Frank Holmes, CEO and chief investment officer of U.S. Global Investors (NASDAQ:GROW), believes there may be a place for both cryptocurrency and gold. He says MicroStrategy (NASDAQ:MSTR) is a good "leveraged proxy" for Bitcoin (BTC-USD) exposure.
  • "Saylor puts his money where his mouth is," Holmes comments, as MicroStrategy (MSTR) currently holds Bitcoin (BTC-USD) as a treasury reserve asset, and issues debt to invest in more Bitcoin.
  • Gold should make up 10% of a diversified portfolio, Holmes said.
  • Both Saylor and Holmes seem to agree on a bearish U.S. dollar environment based on historically low interest rates.
  • Bitcoin (BTC-USD) slips 1.3% to $44.9K in the past 24 hours, while Ethereum (ETH-USD) slides 2.7% from Tuesday.
  • Last month, Saylor said MicroStrategy's Bitcoin ownership boosts the company's brand and shareholder value
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