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June 25, 2022
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Bitcoin

bitcoin is more of an asset than a digital currency

The head of MicroStrategy believes that bitcoin is a form of digital asset, not a digital currency. He said this in response to a question about whether the cryptocurrency is a threat to the dollar.

The head of MicroStrategy talks about the nature of BTC

Michael Saylor, CEO of MicroStrategy, was a guest on the podcast “Coin Stories” hosted by Natalie Brunell yesterday. When asked if he considered bitcoin a threat to the US dollar, Saylor replied that he did not.

I would call it [tj. BTC] digital property is a threat to assets, especially other forms: gold, real estate. I don’t think the US government feels threatened by real estate, buildings, businesses, or gold – He said.

Earlier, Saylor, when he was a guest on Scott Melker podcast “Wolf of All Streets,” stated:

I don’t think bitcoin will ever become a currency in the US. (…) And what it does is demonetize other forms of property.

He added that people are now wondering whether to buy bitcoins, rather than opting for traditional investments like real estate, stocks, starting a business, or buying gold.

MicroStrategy in the BTC market

MicroStrategy gradually accumulates bitcoins. It has been going on since August 2020. Today, the company already has 105,085 BTC worth approximately $ 3.3 billion.

Saylor said that even if bitcoin is down now, MicroStrategy has no intention of selling cryptocurrencies and is ready for years of farming. He referred at this point to “A brilliant thing that Steve Balmer did”, former CEO of Microsoft.

You know, he just didn’t sell Microsoft stock – He said.

Saylor also referred to a famous quote by Warren Buffett that once stated that “if you don’t want to own shares for ten years, don’t even think about owning them for ten minutes. ‘ He also reminded that, for example, Amazon made a lot of money to its most faithful investors.

However, he also suggested that if bitcoin’s price were suddenly lower than four years ago, he would have to rethink his investment strategy.

Today, 1 BTC costs USD 31,707, which is over 3%. less than 7 days ago and 2.4 percent. less than 24 hours ago. ETH loses as much as 10 percent on a weekly basis.

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