Michael Saylor, the founder of MicroStrategy, has a very specific goal in mind: to convince crypto skeptic Warren Buffett to invest in Bitcoin. That’s why he’s so confident.
• MicroStrategy CEO wants to convince Buffett of Bitcoin
• The major investor is known as a crypto skeptic
• Will Buffett invest in Bitcoin soon?
MicroStrategy founder Saylor is known for his strong stance on Bitcoin – in complete contrast to Berkshire Hathaway CEO Warren Buffett. However, in a PBD podcast from November 18, 2024, he appears confident and thinks he can convince crypto skeptics about Bitcoin: “If I could spend an hour alone with Warren Buffett in a quiet environment, he would say: Bitcoin is quite a good idea [Munger] would have liked it. We’re going to buy some,” he boasts on the PBD Podcast.
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Digital gold? That’s why MicroStrategy now owns more Bitcoin than ever before
The company now holds a total of 423,650 Bitcoins. The Bitcoin price broke the $103,900 mark on December 5, 2024, but then fell slightly again. At the current market value of $101,426.26 (as of December 11, 2024), MicroStrategy now has an impressive Bitcoin holdings worth around $42.9 billion. This enormous amount of Bitcoin ensures a close link between the performance of MicroStrategy shares and the Bitcoin price. The stock shot up again after the recent Bitcoin record high.
In an X article from 2013, Saylor expressed doubts about the future of Bitcoin and spoke of an “end of days” for the digital asset. However, today, over a decade later, Saylor is one of Bitcoin’s biggest advocates.
He believes that Bitcoin represents a superior investment and offers a solution for companies seeking to protect themselves from the debasement of fiat currencies. For Saylor, the success of Bitcoin has long been undeniable. He particularly appreciates the limited supply of Bitcoin, as this makes the cryptocurrency a form of “digital gold,” according to Saylor’s statement on the PBD Podcast. “Bitcoin works on a need-to-know principle,” he further explained on the PBD podcast. This means that only those who understand the limited supply and true value of Bitcoin invest in the cryptocurrency.
Warren Buffett against Bitcoin: Is the major investor making a huge mistake?
Warren Buffett, who became known for his philosophy of conservative investing, never viewed Bitcoin as a worthwhile investment. For him, cryptocurrency is a speculative instrument with no intrinsic value. In the past, he even compared the crypto market to gambling and roulette. In a CNBC interview, he described Bitcoin as a “gambler’s token”.
Saylor criticizes Berkshire Hathaway’s decision to hoard a huge cache of cash instead of investing in Bitcoin. Berkshire Hathaway currently holds about $325 billion in cash, according to data from CompaniesMarketCap. “They’re destroying $3 billion a month in capital that belongs to shareholders,” Saylor said in the podcast. He adds that the return on capital employed is only about three percent, while the cost of capital is 15 percent – resulting in a “real negative return of twelve percent.”
Will Buffett invest in Bitcoin soon?
It remains to be seen whether Michael Saylor will really be able to convince Warren Buffett of Bitcoin. One thing is certain: Bitcoin’s impressive performance in recent years cannot be denied. If Saylor does indeed earn Buffett’s trust, it could be a turning point for the entire Bitcoin industry. But until then, it remains to be seen whether the experienced investor will change his attitude towards the digital currency.
Editorial team finanzen.net
This text is for informational purposes only and does not constitute an investment recommendation. finanzen.net GmbH excludes any claims for recourse
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