Michael Saylor, the CEO of MicroStrategy, a NASDAQ-listed business intelligence firm; and a vocal advocate of bitcoin (BTC), in a recent YouTube interview, shared his thoughts on the coin and its prospects.
Bitcoin is the future
Saylor said bitcoin is the most disruptive technology of our time, and it has the potential to fundamentally change the way people think about money and finance. He believes that bitcoin is superior to gold and a better value store.
“Gold has been the store of value for the last 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 portable, divisible, and secure.”
MicroStrategy CEO, Michael Saylor
Moreover, Saylor believes bitcoin’s underlying blockchain technology 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 bitcoin is the foundation of a new financial system that will be “more transparent, secure, and efficient” than the current system.
The Microstrategy CEO 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 inflation-proof 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 want. Subsequently, this drives inflation higher, devaluing currencies. He, however, believes that in the long run, people will realize that BTC 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’s 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 about investing in bitcoin. He sees a bright future for the coin beyond just being a store of value. It is especially considering the current bank crisis in the United States characterized by the collapse in share prices of leading regional banks in the past few weeks.