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Bitcoin Is the Scarcest Asset, MicroStrategy CEO Saylor Says

  • Software company was one of the earliest to invest in crypto
  • Tesla announced a $1.5 billion purchase of the token Monday

Elon Musk made waves with Tesla Inc.’s announcement that it bought $1.5 billion of Bitcoin, but he is far from the first chief executive to use his rainy day fund to invest in the world’s largest cryptocurrency.

“In an expansionary, monetary environment, you want scarce assets,” said Michael Saylor, MicroStrategy Inc.’s chief executive officer, in an interview on Bloomberg Television. “The scarcest asset in the world is Bitcoin. It’s digital gold.”