Michael Saylor, the CEO of business intelligence software company MicroStrategy (MSTR), the first publicly traded company to add bitcoin to its balance sheet, sees an "avalanche" of corporations that will embrace the cryptocurrency.
"The pitch is bitcoin (BTC-USD) is digital gold, and it's sitting on the world's first digital monetary network," Saylor told Yahoo Finance Live on Wednesday, two days after electric car maker Tesla (TSLA) made headlines for buying $1.5 billion worth of bitcoin.
He also pointed to the digital currency's performance versus the U.S. dollar, making a case that "bitcoin has emerged as an institutional safe-haven asset. Cash is going to be a depreciating asset’
Video Courtesy Of Yahoo Finance
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