MicroStrategy CEO Michael Saylor instructed CNBC on Tuesday he sees a shiny future for a spread of cryptocurrencies, not simply bitcoin.
Saylor, one of the crucial vocal bitcoin proponents, has over the previous 12 months raised the profile of his enterprise software company by investing heavily on this planet’s largest cryptocurrency by market worth.
In an interview Tuesday on “Fast Money,” Saylor stated completely different cryptocurrencies serve completely different functions, however it may take time for newcomers to the digital asset house to acknowledge these distinctions.
For instance, Saylor stated, he sees bitcoin as “digital property” and a retailer of worth, whereas ether and the Ethereum blockchain search to disrupt conventional finance.
“You are going to wish to construct your buildings on a stable footing of granite, so bitcoin is made to final perpetually — excessive integrity, very sturdy. Ethereum is attempting to dematerialize exchanges and the finance institution,” Saylor stated. “I believe that because the market begins to grasp these items, there’s a spot for everyone.”
MicroStrategy introduced Monday that it recently completed a debt offering with the intention of utilizing proceeds to purchase extra bitcoin.
The corporate additionally stated Monday it’s launching a program to promote $1 billion price of further inventory over time. Saylor instructed CNBC the agency might use cash from the inventory providing to buy bitcoin, to retire debt or for basic company functions.
Shares of MicroStrategy are up about 62% to this point this 12 months and greater than 400% previously 12 months.
The inventory closed Tuesday at $630.54, up greater than 5% on the session. In February, it set a 52-week excessive when it traded above $1,300.