CEO Says Bitcoin Is Safer After Moving Firm’s Cash to Crypto (1)

MicroStrategy Inc. Chief Executive Officer Michael Saylor says the Federal Reserve’s recent relaxing of its inflation policy helped convinced him to put the remainder of the enterprise-software maker’s cash into Bitcoin.

“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” Saylor said in an interview.

Before the Covid-19 crisis, the Tysons Corner, Virginia-based company had about $500 million mostly invested in short-term U.S. government securities. Saylor began to question that conventional strategy when yields tumbled in the wake of the pandemic. He estimates that so-called asset inflation will surge to more than ...