MicroStrategy is prepared to HODL its bitcoin for at least a century.
Or so said the business intelligence firm’s founder and CEO, Michael Saylor, in an interview with CoinDesk on Tuesday, shortly after he announced on Twitter that MicroStrategy was doubling down on the godfather cryptocurrency with the purchase of $175 million more BTC.
“I want something that I could put $425 million into for 100 years,” Saylor told CoinDesk.
In the last two months Saylor has transformed his company’s once sleepy cash surplus into a nearly half-billion-dollar bet on bitcoin, the “digital gold” Saylor is certain will outlast his tenure.
“If [my successor is] staring at this thing, it’s still working,” he said.
“This thing” is a heaping pile of 38,250 bitcoins. The publicly traded firm bought $250 million on Aug. 11, days after telling shareholders that cash was no longer a safe place for its excess $500 million. Just this morning, it bought $175 million more.
Read more: MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M
Forget about parking the balance sheet surplus in inflation-prone cash or low-yield bonds or overextended tech stocks, Saylor said. In a market like this – and in the