The CEO of the company, which has just bought 38,250 BTC, said Bitcoin (BTC) as a value store is “developing well”.

In a tweet on September 17th, Michael Sailor revealed more details about Bitcoin’s impressive launch of MicroStrategy.

Sailor praises Bitcoin as a scalable asset store
MicroStrategy consistently made headlines since its first acquisition in August, and has now exchanged more than $ 400 million in reserve capital from dollar into BTC.

An interview between Sailor and Morgan Creek Digital co-founder Anthony Pomplano this week highlighted his commitment as he was so skeptical about Bitcoin.

He is now confident of the network’s technical foundations and its future. For example, scaling to fulfill demand is not an issue for Sailor due to off-chain transactions.

An example is MicroStrategy’s first acquisition of 21,454 BTC for $ 250 million.

He wrote, “We acquired 21,454 BTC through 78,388 off-chain transactions and secured them in cold storage with 18 transactions on the network.”

“#Bitcoin is a good measure of value.”

Woo: 2021 could be Bitcoin’s MicroStrategy Pioneer Year
Sailor describes the status quo in which transactions in a large chain of investors remain scarce:

“If #Bitcoin is viewed as a reserve capital, according to our model, 99.98% of all transactions will be done offline, and risky assets will be in cold storage 99.92% of the time.”

Off-chain transactions with solutions like Lightning Network allow you to increase Bitcoin transaction volumes without increasing blockchain size and increasing fees to attract miners.

In his popular book The Bitcoin Standard, Saifedan Ammous also argues that off-chain activity will become the norm when Bitcoin gains a much larger user base.

This may happen sooner rather than later. After an interview with Pompliano, statistician Willie Wu called Saylor and identified 35,000 companies listed worldwide with an additional $ 5 trillion in cash reserves.

He said in a tweet, “I found out if other people are following MicroStrategy’s leadership, and even only 1% of the capital goes to BTC, and that’s enough to lower the Bitcoin limit to $ 2 trillion.”

Wu added that, looking at MicroStrategy, it took six months to agree to the move to Bitcoin, with all copying activity starting to emerge in 2021.

Source: CoinTelegraph

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