Business intelligence, mobile software and cloud services firm MicroStrategy will invest up to $250 million of excess cash in Bitcoin, gold and alternative assets, as revealed in a July 28 earnings call involving CEO Michael Saylor.
- Primary motivating factor revealed to be a weakening USD and as a hedge against inflation
- CEO says it is imprudent to hold a large portion of USD with near zero interest rates and lavish stimulus packages
- Saylor also said Bitcoin’s 21 million limit acts as a strong hedge against inflation
- Saylor revealed that the firm first closely examined Bitcoin after selling the “Voice.com” domain to Block.One
- Saylor was once pessimistic on Bitcoin's prospects, saying its "days were numbered" in 2013