Macro investor Dan Tapiero thinks MicroStrategy’s recent $425 million Bitcoin investment will balloon to $10 billion in value within a decade.
MicroStrategy, one of the largest publicly traded business intelligence companies in the world, made a series of gigantic BTC purchases in August and September. The firm now views Bitcoin as the principal investment in its treasury reserve, and Michael Saylor, MicroStrategy’s chief executive, says the move is a “deliberate corporate strategy to adopt a Bitcoin standard.”
Tapiero, the co-founder of digital asset equity fund 10T Holdings, says Saylor will go down as one of the “great global macro investors of all time.”
Nails it again.
@michael_saylor to go down as one of the great global macro investors of all time (and I have worked with a few of the greats.)
Massive $425m #Bitcoin bet going to $10 bil within 10yrs.
Reasoning and thought process impeccable.https://t.co/lOWiYbLXGZ
— Dan Tapiero (@DTAPCAP) October 25, 2020
Saylor used to be a Bitcoin critic and previously predicted the asset’s demise, though he now says he just didn’t understand it. He missed buying BTC when it was $111, and continued to ignore it when it surpassed $1,000. And then, this year, MicroStrategy bought it at $11,111,000.
Still, Saylor tells Keith McCullough at HedgeEye that they’re still happy they managed to get in when they did.
“Better late than never. A lot of people said Warren Buffett missed Apple. Warren Buffett missed Apple for eight of those ten years, and then he must have made more money on Apple stock in the last 20% of that run than he made on any [other] investment in his entire life, and he probably made it without even noticing he made it, because, ultimately, the thing about technology is figure out the thing that’s going to eat the world [and] if you’re right, own it, hold it, and wait.”
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