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Michael Saylor Compares Bitcoin to Manhattan

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by Giorgi Kostiuk

a year ago

Michael Saylor, chairman of MicroStrategy, remains invested in Bitcoin, calling it the 'Cyber Manhattan' of the digital age. In a CNBC interview, he compared Bitcoin to real estate in New York City.

Bitcoin as the Digital Manhattan

Michael Saylor stated that investing in Bitcoin today is akin to buying Manhattan real estate over the past 300 years. He emphasized that Bitcoin, like Manhattan real estate, is always a sound investment.

MicroStrategy's Bitcoin Accumulation Strategy

Since 2020, MicroStrategy has been acquiring Bitcoin, with current holdings totaling 439,000 BTC, worth around $46 billion. The company funded these purchases by taking on debt, similar to real estate development practices.

Criticism and Achievements of MicroStrategy

Some critics describe MicroStrategy's strategy as a 'Ponzi scheme' due to its reliance on debt. However, Saylor dismisses these claims, likening it to New York development. The company will reach a milestone by joining the Nasdaq-100 index in December.

Every day is a good day to buy Bitcoin.

Despite criticism, Michael Saylor remains confident in Bitcoin's long-term stability and value, drawing parallels to Manhattan’s development.

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