Home
News
- MicroStrategy CEO Michael Saylor is always optimistic about Bitcoin and often gives his opinions regarding the potential of the cryptocurrency.
- Gold is another commodity, but Bitcoin’s scarcity makes it a magical asset because there will be only 21 million tokens to be mined, opines the CEO.
- MicroStrategy is a publicly-traded company to be holding the largest Bitcoin having around $121k BTC worth around US$4.8 million.
MicroStrategy CEO Michael Saylor is one of the most significant supporters of Bitcoin (BTC). He has often been vocal about the potential benefits of cryptocurrency and cites it to be one of the best investments. His firm, which remains to be a publicly-traded company having the largest Bitcoin holdings globally, shares his opinions. Saylor has again recently opined about the dominant cryptocurrency.
What makes the currency distinct from others in the crypto industry is its definite supply of 21 million coins. This scarcity increases its value by leaps and bounds because more BTC cannot be mined. Bitcoin remains to be a scarce asset among others, making it valuable globally.
It has considerably emerged as a competitor for top investments assets in the sector. And one of them is Gold. And Bitcoin has outperformed its physical competitor in recent years, making both of them a rival for each other.
Bitcoin: The only Scarcity known to Humanity
But Saylor says that only one of these two assets is truly scarce, and that is Bitcoin (BTC). Michael Saylor expressed his views in a PBD podcast and explained that all other investment assets could have more of them created. He says Bitcoin is the sole scarcity known to Humanity. And the MicroStrategy CEO called Gold to be another commodity alongside others like real estate and luxury watches.
According to him, he can create more real estate in New York City. He can create more cars, more watches, more luxury, more Gold, more shares of a stock, and more bonds. Further explaining that all of these are the ones he can create more, then they are basically commodities. In contrast, Bitcoin is magical because there will be only 21 million tokens, and no one can make more of them once they are all mined.
He added that he could create any commodity, as they are commodities by definition. And that he can create infinite of all of them given enough time and money.
Michael Saylor’s support for Bitcoin reflects both on his personal and professional life. He is known for using his personal Bitcoin investment as an argument for why MicroStrategy should invest in digital assets. Currently, Saylor’s MicroStrategy owns around $121k Bitcoin worth around $4.8 million.
ALSO READ: VanEck starts Crypto Mining ETF
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
