“All major banks will hold Bitcoin,” says billionaire Michael Saylor

With the growing interest in Bitcoin among global investors, financial industry experts believe that traditional banks are preparing to offer custodial services for the largest cryptocurrency in the market.

In a recent interview, billionaire Michael Saylor, founder and CEO of MicroStrategy, emphasized the need for a reliable escrow infrastructure, stating that “there will come a time when all major banks will have Bitcoin”.

Saylor pointed out that the increased adoption of Bitcoin by individuals, businesses and even government agencies will create a demand for safe and reliable custody solutions.

He noted that certain groups, such as Bitcoin heirs and seniors, may not be able to arrange for self-custody, and in such cases, traditional financial institutions will play an important role in managing the digital assets on behalf of these people.

Saylor stressed that if nation-states continue to exist, it will be inevitable that traditional institutions and institutional sources will buy Bitcoin. He argued that for economic, physical and political reasons, cryptocurrency will permeate various financial institutions around the world.

“Large institutions, churches, corporations and the like will need an infrastructure of custodians and banks, so I think there will come a time when all major banks will be custodians of Bitcoin.” Saylor said.

This view is in line with the view of MicroStrategy, a business intelligence software company, which has acquired more than 140,000 bitcoins to date.

While there has been some criticism of this strategy, with some calling it “comically stupid,” Saylor argues that Bitcoin’s adoption by mainstream institutions is an inevitable move.

Meanwhile, Bitcoin price on the market was trading at $27,323 at the time of writing, up 1.72% on the day and 0.41% on the previous week, looking for losses of 1.70% over the past month, according to data retrieved by Finbold on May 23.

Michael Saylor

Michael Saylor is best known as the co-founder and CEO of MicroStrategy, a US-based business intelligence software company. He gained fame in the cryptocurrency world for his bullish stance on Bitcoin and for leading MicroStrategy’s bitcoin investment strategy.

Saylor is a staunch supporter of Bitcoin and believes it to be a store of value superior to other forms of money. He sees Bitcoin as a hedge against inflation and the depreciation of fiat currencies, as well as a solution to global economic and monetary challenges.

Unlike many Bitcoin skeptics, Saylor believes the cryptocurrency has the potential to become a widely accepted global currency. He argues that Bitcoin offers security, digital scarcity and the ability to instantly transfer value around the world without going through intermediaries.

Saylor has also been a proponent of corporate investment in Bitcoin. MicroStrategy was one of the first major companies to adopt Bitcoin as a strategic store of value on its balance sheet. Since then, the company has continued to acquire large amounts of Bitcoin as part of its corporate treasury strategy.

Saylor regularly shares her thoughts on Bitcoin through interviews, articles, and appearances at cryptocurrency-related events. It seeks to educate and convince other business leaders and investors of Bitcoin’s benefits and potential as a viable asset class and reliable store of value.

Source: Live Coins

follow:
\