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MicroStrategy CEO Thinks Borrowing Money To Buy BTC Is Like Investing In Early Facebook
Summary: According to CNBC, MicroStrategy CEO Michael Saylor said that borrowing money to buy Bitcoin is like investing in Facebook in the early days. Saylor explained to CNBC: "If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital network that you thought was going to be the dominant ...
According to CNBC, MicroStrategy CEO Michael Saylor said that borrowing money to buy Bitcoin is like investing in Facebook in the early days.
Saylor explained to CNBC: "If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital network that you thought was going to be the dominant Amazon or Google or Facebook of money, why wouldn't you? I mean, if I could borrow $1 billion and buy Facebook a decade ago for 1% interest, I think I would've done quite well."
As an enterprise software company, MicroStrategy is known for betting on Bitcoin. Its Q2 financial report shows that although it has accrued $689.6 million in impairment losses since buying BTC, the company still plans to buy more and deploy additional capital into its digital asset strategy.
By Mary Liu
Tags: Bitcoin,Michael Saylor,MicroStrategy
Link: MicroStrategy CEO Thinks Borrowing Money To Buy BTC Is Like Investing In Early Facebook [Copy]
