Bitcoin (BTC) as a store of value "scales but fine," the CEO of the company that just purchased 38,250 BTC has said.

In a tweet on Sep. 17, Michael Saylor revealed more information near MicroStrategy's dramatic launch into Bitcoin.

Saylor praises Bitcoin as a scalable store of value

Continually making the headlines since its first buy in Baronial, MicroStrategy has now swapped over $400 million of spare upper-case letter from USD to BTC.

An interview betwixt Saylor and Morgan Creek Digital co-founder, Anthony Pompliano this week underscored his commitment, having previously been highly skeptical of Bitcoin.

Now, his belief in the technical fundamentals of the network — and its future — is sure. The problem of scaling to see demand, for example, is a non-upshot for Saylor cheers to off-chain transactions.

MicroStrategy's initial purchase-in — 21,454 BTC for $250 1000000 — was a case in point.

"We acquired 21,454 BTC via 78,388 off-concatenation transactions, then secured it in common cold storage with xviii on-chain transactions," he wrote.

"#Bitcoin scales just fine as a store of value."

Woo: 2021 may exist the twelvemonth of MicroStrategy Bitcoin trailblazers

Continuing, Saylor described a status quo where on-concatenation transactions for major investors will remain a rarity:

"If #Bitcoin is treated as a treasury reserve nugget, based on our model, 99.98% of all transactions will exist off-concatenation, and assets-at-risk will be in cold storage 99.92% of the time."

Off-concatenation transactions via solutions such as the Lightning Network allow Bitcoin transaction volume to increase without calculation book to the blockchain and raising fees to appeal to miners.

In his pop volume, The Bitcoin Standard, Saifedean Ammous likewise argues that off-chain activeness will become the norm once Bitcoin gains a much larger user base.

That could happen sooner rather than later. Following the Pompliano interview, statistician Willy Woo picked upwards on Saylor highlighting the world'south 35,000 publicly traded companies that take spare greenbacks reserves of $five trillion.

"I make out if others follow MicroStrategy'south lead and fifty-fifty just i% of that upper-case letter finds its way into BTC, that's enough to blow Bitcoin cap to $2T," he tweeted.

Woo added that given MicroStrategy took six months to approve its shift to Bitcoin, whatever copycat moves would begin to surface in 2021.