Michael Saylor, the CEO of MicroStrategy, a NASDAQ-listed enterprise intelligence agency; and a vocal advocate of bitcoin (BTC), in a latest YouTube interview, shared his ideas on the coin and its prospects.
Bitcoin is the longer term
Saylor stated bitcoin is probably the most disruptive expertise of our time, and it has the potential to basically change the best way folks take into consideration cash and finance. He believes that bitcoin is superior to gold and a greater worth retailer.
“Gold has been the shop of worth for the final 5,000 years, but it surely’s not the very best retailer of worth anymore. Bitcoin is digital gold, and it’s higher than bodily gold as a result of it’s extra moveable, divisible, and safe.”
MicroStrategy CEO, Michael Saylor
Furthermore, Saylor believes bitcoin’s underlying blockchain expertise can be utilized for varied functions, together with good contracts, decentralized finance (DeFi), and even discover utility in voting methods.
Because of this, he confidently believes bitcoin is the muse of a brand new monetary system that shall be “extra clear, safe, and environment friendly” than the present system.
The Microstrategy CEO firmly believes in bitcoin and its potential to rework the monetary business, as he believes and advocates that bitcoin is the way forward for cash.
Michael Saylor: you’ll be able to’t print bitcoin
Saylor additionally believes that bitcoin will ultimately turn into the world’s reserve foreign money. In his view, BTC is the one inflation-proof asset on the planet.
“It has a set provide of 21 million cash, and nobody can create extra.”
MicroStrategy CEO, Michael Saylor
He argues that the present fiat foreign money system is flawed as a result of central banks can print as a lot cash as they need. Subsequently, this drives inflation larger, devaluing currencies. He, nonetheless, believes that in the long term, folks will notice that BTC is the one asset resistant to inflation.
Regardless of the latest volatility within the cryptocurrency markets, Saylor stays bullish on bitcoin as he says, “volatility is a characteristic, not a bug.”
“Bitcoin is a brand new asset class, and it’s nonetheless in its early phases of growth. Volatility is an indication of a wholesome market and creates alternatives for traders.”
MicroStrategy CEO, Michael Saylor
He encourages folks to assume long-term about investing in bitcoin. He sees a vivid future for the coin past simply being a retailer of worth. It’s particularly contemplating the present financial institution disaster in the USA characterised by the collapse in share costs of main regional banks previously few weeks.