Michael Saylor recommends companies buy Bitcoin, calls bonds 'toxic'

MicroStrategy Inc. co-founder and chairman Michael Saylor said companies should buy Bitcoin because bonds are "toxic." Saylor compared the returns of Bitcoin and bonds so far in 2020, noting that since the company adopted the Bitcoin buying strategy, its price has risen while bonds have fallen. "It applies to any company, and every company has a choice: to 'hold on to the past' by buying Treasuries, executing buybacks and dividends, or to 'embrace the future' by using Bitcoin as digital capital," Saylor said in a keynote speech at a retail conference. "We build buildings with steel, and they build buildings with wood," he said, criticizing companies including Microsoft Corp. (to which he had recommended investing in cryptocurrencies) and Nvidia Corp. for not following MicroStrategy's lead. One slide in his presentation showed 70 companies holding Bitcoin. "What's the harm? Well, you just got rich." MicroStrategy shares are up about 9.71% year to date. As of January 12, 2025, MicroStrategy holds 450,000 BTC, with a year-to-date return of 0.32%. Saylor said at the end of his more than 50-minute speech: "Do the right thing for your family, for your country, and for your investors, and adopt Bitcoin." (Bloomberg)