Michael Saylor, the CEO Who Turned a Software Company Into a Bitcoin Company
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 24 December 2020
⏱️ 78 minutes
🧾️ Download transcript
Summary
This past summer, the business intelligence software company MicroStrategy made waves when it put some of its extra cash into Bitcoin. Then, as Bitcoin ran up, it bought more, and the stock has now soared thanks to the bet. But what's the reasoning behind the move? We speak with MicroStrategy’s CEO, Michael Saylor, on why he thinks Bitcoin is the best reserve asset for any company.
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Transcript
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| 0:00.0 | With Bloomberg you get the story behind the story, the story behind the global birth rate, |
| 0:04.7 | behind your EV batteries environmental impact, behind sand. Yeah, sand, you get context. |
| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. Hello and I'm Tracy Alaweth. |
| 0:26.0 | Hello and welcome to another episode of the Odd Lots Podcast. |
| 0:30.0 | I'm Joe Wiesenthal. |
| 0:32.0 | And I'm Tracy Alawet. So Tracy, you know, there's still no |
| 0:36.7 | Bitcoin E. T. F. As you know, I mean, for years, people have been trying to float one still that one but there are various |
| 0:45.4 | some publicly listed instruments that have exposure to Bitcoin that in the meantime people are buying and selling to yeah basically find a way |
| 0:56.7 | to get exposure to the asset class or whatever you want to call it through a listed |
| 1:01.4 | equity. |
| 1:02.4 | Yeah that's right and through a list of equity. |
| 1:04.0 | Yeah, that's right. And I know we've been talking about the possibility of a Bitcoin EDF |
| 1:08.0 | for many, many years now. |
| 1:10.0 | It's kind of surprising that that hasn't happened just yet, but you're right. |
| 1:15.0 | There are a number of public companies that are now a play on Bitcoin and they kind of range from the more, I guess you could say, outrageous or unusual to the more traditional. |
| 1:27.8 | So at one end of the spectrum, you have a gray scale Bitcoin trust, which is sort of trying to replicate the E. T. F. structure |
| 1:36.8 | without explicitly being an E. T. F. And then at the other end you have |
| 1:41.2 | remember all those companies like Long Island Ice Tea that changed their name to include |
| 1:46.1 | blockchain and just sort of jumped on the bandwagon. And those have been going up this year |
| 1:50.9 | along with the Bitcoin price as well and then of course you have |
| 1:53.8 | everything in between. Right is exactly right so some companies are very |
| 1:58.6 | tangentially related to crypto or they like oh we're suddenly a blockchain company even though we used to sell |
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