Michael Saylor, CEO of MicroStrategy, a NASDAQ-listed business intelligence firm. An outspoken advocate of Bitcoin (BTC), in a recent interview on YouTube, shared his thoughts on the currency and its prospects.
Bitcoin is the future
Saylor said that bitcoin is the most disruptive technology of our time, and it has the potential to radically change the way people think about money and finance. He believes that bitcoin is better than gold and a better store of value.
“Gold has been a store of value for the past 5,000 years, but it’s not the best store of value anymore. Bitcoin is digital gold, and it’s better than physical gold because it’s more transferable, divisible, and secure.”
MicroStrategy CEO Michael Saylor
(embed) https://www.youtube.com/watch?v=ws92Nay33S8 (/embed)
Moreover, Saylor believes that the underlying blockchain technology of bitcoin can be used for various purposes, including smart contracts, decentralized finance (DeFi), and even find application in voting systems.
For this reason, he confidently believes that bitcoin is the foundation of a new financial system that will be “more transparent, secure and efficient” than the current one.
The CEO of Microstrategy firmly believes in Bitcoin and its potential to transform the financial industry, as he believes and advocates that Bitcoin is the future of money.
Michael Saylor: You can’t print bitcoin
Saylor also believes that bitcoin will eventually become the world’s reserve currency. In his view, BTC is the only anti-inflationary asset in the world.
“It has a fixed supply of 21 million coins, and no one can create more.”
MicroStrategy CEO Michael Saylor
He argues that the current fiat currency system is flawed because central banks can print as much money as they can. Thus, this leads to higher inflation and devaluation of currencies. However, he believes that in the long run, people will realize that Bitcoin is the only asset immune to inflation.
Despite the recent volatility in the cryptocurrency markets, Saylor remains bullish on Bitcoin as he says, “volatility is a feature, not a bug.”
“Bitcoin is a new asset class, and it is still in its early stages of development. Volatility is a sign of a healthy market and creates opportunities for investors.”
MicroStrategy CEO Michael Saylor
It encourages people to think long-term about investing in bitcoin. He sees a bright future for the coin beyond being a mere store of value. In particular, it examines the current banking crisis in the United States, which has been marked by the collapse in share prices of leading regional banks in the past few weeks.