MicroStrategy chairman Michael Saylor emphasised the need for investors to perceive Bitcoin not merely as a currency but as a long-term digital property, akin to a “billion-dollar building in cyberspace.”
Saylor dismissed the notion of Bitcoin primarily functioning as a medium of exchange, stating, “It’s going to be controversial if people think of it as a currency.” Instead, he urged individuals to regard it as a valuable asset for wealth preservation over centuries.
He highlighted the contrast between using Bitcoin for everyday transactions and its potential as a digital property, drawing parallels with real estate investments. According to Saylor, Bitcoin’s true value lies in its role as a store of value, a sentiment echoed by BlackRock’s CEO earlier this year.
Saylor expressed confidence in Bitcoin’s ability to outshine traditional assets like gold, emphasizing its global accessibility, trustworthiness, and ethical nature due to its decentralized nature.
Addressing concerns about Bitcoin’s price volatility, Saylor remained unwavering in his conviction, asserting, “It’s the greatest of the assets in my opinion.” He dismissed doubts about its resilience during market downturns, stating, “We’re just waiting for the rest of the world to realize how good it is.”
At the time of publication, Bitcoin’s price stands at $72,400, marking a notable uptrend over the past week and month, reinforcing Saylor’s bullish outlook on the cryptocurrency market.
