Michael Saylor, the co-founder of MicroStrategy, an American software company that famously used its balance sheet to buy over USD 400 million worth of bitcoin (BTC), said that his firm’s investment was “not a bet” – and claimed that big-business players may turn to crypto out of a “fiduciary obligation” not to allow cash holdings dwindle away while fiat inflation rockets, undaunted by volatility issues.
Speaking on Anthony Pompliano’s Pomp Podcast, Saylor remarked that the firm’s executive board decided to back the decision rather than hang onto it “for a rainy day.”
One of fund managers’ and institutional investors’ biggest bugbears when it comes to BTC has always been volatility, but Saylor claimed that larger-scale investors do not share the same sort of concerns on this matter as day-traders – and even claimed that bigger investors could play a key role in boosting BTC stability.
He stated,
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