Michael Saylor, CEO of MicroStrategy, a NASDAQ-listed business intelligence firm; and a strong bitcoin (BTC) advocate, in a recent YouTube interview, shared his thoughts on the coin and its outlook.
Bitcoin is the future
Saylor said bitcoin is the most disruptive technology of our time and has the potential to fundamentally change the way people think about money and finance. He thinks bitcoin is superior to gold and a better store of value.
“Gold has been the store of value for the past 5,000 years, but it is no longer the best store of value. Bitcoin is digital gold, and it’s better than physical gold because it’s more portable, divisible, and secure.
MicroStrategy CEO, Michael Saylor
Additionally, Saylor believes Bitcoin’s underlying blockchain technology can be used for a variety of 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 system.
The CEO of Microstrategy is a strong believer 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 bitcoins
Saylor also believes bitcoin will eventually become the world’s reserve currency. According to him, BTC is the only inflation-resistant 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 money system is flawed because central banks can print as much money as they want. Subsequently, this leads to higher inflation, devaluing currencies. He thinks, however, that in the long term, people will realize that BTC is the only inflation-immune asset.
Despite 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
He encourages people to think long term before investing in bitcoin. He sees a bright future for the coin beyond just being a store of value. This is especially given the current banking crisis in the United States characterized by the collapse of share prices of major regional banks in recent weeks.
