MicroStrategy chairman advocates for Bitcoin over bonds, Bloomberg reports

Investing.com -- MicroStrategy Inc (NASDAQ:MSTR ).'s co-founder and Chairman, Michael Saylor, has recommended companies to invest in Bitcoin , labeling bonds as "toxic," Bloomberg reported on Monday.

Saylor made these remarks during his presentation at the ICR Conference in Orlando on Monday.

Saylor compared the performance of Bitcoin and bonds since 2020, pointing out that the value of the cryptocurrency has increased since MicroStrategy adopted its Bitcoin-buying strategy, while bonds have experienced a decline, Bloomberg said.

Addressing a filled ballroom of executives and investors at the retail conference, Saylor stated that Bitcoin is a viable investment option for any company, the report added.

This comes on the heels of MicroStrategy's recent disclosure about its Bitcoin purchases. The company reported buying $243 million of the cryptocurrency, marking its 10th consecutive weekly purchase.

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Source: Investing.com