MicroStrategy CEO: Bitcoin market development is hampered by garbage data

CEO of MicroStrategy, which previously invested $425 million in bitcoin, Michael Saylor considers available data on the cryptovolta market to be "trash". They don't reflect the real liquidity he was able to estimate during his own investment, Saylor said during an interview with Hedgeye CEO Kate McCullough on Tuesday.

MicroStrategy CEO referred to Apple's market tracking application, which displays $24.76 billion in daily bitcoin trading. According to Saylor, this data, "transmitted to billions of devices around the world," is greatly overstated.

"This is garbage. I've learned from my own experience that I can't buy more than $35 million a day without people knowing about it. In no way can there be $24 billion. It's just horrible," he said, adding that this factor "restrains bitcoin.

CoinDesk analyst Galen Moore said perceptions of "real" bitcoin trading volumes are still very different. "Data is a marketing tool, not a source of income. Some exchanges intentionally overestimate volumes in order to form an appropriate view of their liquidity," Moore explained.

"Where else would you find something so attractive to surround such terrible data, in other asset classes? - as Saylor asks the question.

At the same time, MicroStrategy's CEO admitted that he likes the "fact of a little immaturity of the data," as it reflects "the agony and work you have to face when you come first or come early.