Bitcoin Proselytizer Saylor Says Over 1,000 Firms Join Webinar
- ‘Avalanche’ of companies to add coins to balance sheet: Saylor
- Virtual summit sees participants from at least 16 countries
Michael Saylor says he sees an “avalanche” of companies moving their cash into Bitcoin over the next 12 months.
The chief executive officer of MicroStrategy Inc. and Bitcoin proselytizer made the projection at his company’s World Now global conference that featured breakout sessions on the future of Bitcoin and how corporations can best position themselves to capitalize on the digital token. According to Saylor, 1,400 firms signed up for the session on Bitcoin legal considerations.
Saylor is among the crypto proponents who have seized on a narrative -- that Federal Reserve policies are equal to money printing -- to promote the notion that Bitcoin is a store of wealth even though inflation remains mostly muted. In August, he had announced that MicroStrategy had begun buying Bitcoin.
“If your company has money on its balance sheets and it’s sitting in fiat currencies like euros and dollars, they are losing about 15% of their purchasing power each year,” he said at the virtual summit that attracted industry participants from at least 16 countries, including Isreal, Switzerland, Brazil, Iceland, Ireland, Italy and Portugal.