Bitcoin in the Boardroom with Michael Saylor - WBD268
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 13 October 2020
⏱️ 103 minutes
🧾️ Download transcript
Summary
Location: Squadcast Date: Thursday 8th October Company: MicroStrategy Role: CEO
In August, MicroStrategy made the bold move of purchasing 21,454 Bitcoin to add to their treasury, spending $250 million. In doing so, CEO Michael Saylor stated that he views Bitcoin as a "dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash".
The next month MicroStrategy announced that they had doubled down on their conviction in Bitcoin and acquired an additional 16,796 Bitcoin, taking their total spend to $425 million. This move sent a clear message to businesses everywhere that Bitcoin is a valuable asset and can be a key part of a company's treasury.
Following in the footsteps of Microstrategy, last week Square announced that they too had added Bitcoin to their treasury with the purchase of 4,709 Bitcoin for ~$50 million.
In this interview, I talk to Michael Saylor, the CEO of Microstrategy. We discuss their Bitcoin purchase, where his conviction in Bitcoin came from, Square buying Bitcoin and the process of adding Bitcoin to a public companies treasury.
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Transcript
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| 0:00.0 | I'm on a melting ice cube of $500 million worth of money. The purchasing power is dwindling |
| 0:07.1 | at 10% to 20% a year. I have to do something. |
| 0:11.3 | Hello there from Bedford in the United Kingdom. |
| 0:15.0 | How are you all? |
| 0:16.0 | Welcome to the What Bitcoin did podcast, which is brought to you by The mighty Cracken, |
| 0:20.0 | the best place to buy, sell it and trade Bitcoin. |
| 0:22.0 | I'm your host, Peter McCorm McCormack and today I've got |
| 0:24.5 | Micro Strategy CEO Michael Saylor on and this is definitely his best Bitcoin |
| 0:28.9 | interview ever but before that I do have a message from my show sponsors. |
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