Michael Saylor Says Bitcoin Would Rather be a Form of Property than Currency in the US

July 16, 2021      Sahaj Sharma

Michael Saylor, the CEO of MicroStrategy thinks that Bitcoin is a form of property and the government of the United States is not threatened by other forms of property. In accordance with the belief of Michael Saylor, Bitcoin is more like a digital property than a currency.

Michael Saylor of MicroStrategy Thinks Bitcoin is a Form of Payment

Speaking on the July 15 edition of the Coin Stories podcast with Natalie Brunell, when asked if Bitcoin was a threat to the United States dollar, Michael Saylor said:

“I would call it a digital property, it’s a threat to the property, it’s particularly a threat to other forms of property: gold is property, real estate is property. I don’t think the United States government is threatened by real estate or buildings or companies or gold.”

Earlier this week on Scott Melker’s Wolf of All Streets Podcast, Saylor stated:

“I don’t really think that Bitcoin’s going to be the currency in the US ever. Nor do I think it should be. And what it’s doing is it’s demonetizing other forms of property.” 

It should be noted that MicroStrategy has been constantly accumulating Bitcoin since the month of August of the year 2020 and the company now holds 105,085 BTC that are valued at around $3.3 billion today.

Saylor Quoting Warren Buffet

While laying an emphasis on holding the assets through periods of market downturn and FUD, he said:

“What was the brilliant thing that Steve Balmer did in order to be worth $100 billion? you know, he didn’t sell Microsoft.”

In addition to this, he referred to the quote from Warren Buffet that says:

“If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”

Appreciating the product of Bitcoin, he said:

“One iPhone 12 in a hundred years will be worth nothing, so the product that Apple is selling isn’t gonna last 1000 years. The product that Bitcoin is selling is 1/21 millionth of all the money in the world. That doesn’t have to change, it just kinda has to not break.”

READ  Elon Musk's Bitcoin Sentiment Is Wrong
#Bitcoin #Michael Saylor #MicroStrategy
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.