In a recent interview with analysts at research and brokerage firm Bernstein, MicroStrategy founder and executive chairperson Michael Saylor said the company's ultimate goal is to become the leading bitcoin bank. Michael Saylor sees Bitcoin as a revolutionary form of digital capital that can be an effective hedge against inflation and serve as a preeminent vehicle for long-term store of value. Saylor believes that Bitcoin's volatility attracts investors looking for high returns and that over time it will become an indispensable asset in institutional and retail portfolios. Saylor sees MicroStrategy as a Bitcoin bank whose core business is the creation of Bitcoin capital markets instruments covering equities, convertible bonds, fixed income and preference shares. Rather than lending money, as traditional banks do, MicroStrategy seeks to borrow at low interest rates, offer lenders a slightly higher rate and invest that money in bitcoin - the "base case" estimates an average annual return of 29 per cent.