"We really felt we were on a $500M melting ice cube," says Microstrategy (MSTR) CEO Michael Saylor. "Once the real yield on our treasury got to more than negative 10%, we realized that everything we are doing on P&L is irrelevant."Saylor over the past few weeks has famously moved the bulk of his company's $500M in short-term government paper into Bitcoin (BTC-USD), and spoke about it to Bloomberg today."We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold," he says, noting gold continues to be mined, while there's a finite amount of Bitcoin that might ever be issued.Saylor owns 73% of the voting stock of Microstrategy.Not necessarily a hardcore hodler, Saylor says he'd have little issue selling his Bitcoin and re-buying government paper should yields move sharply higher.Previously: MicroStrategy Bitcoin buys now total $425M (Sept. 15)
