Michael Saylor Rejects Bitcoin Doubters, Defends Digital Asset’s Value
In a recent interview with CNBC, MicroStrategy CEO Michael Saylor reaffirmed his bullish stance on Bitcoin (BTC), dismissing skeptics who question its value and long-term viability.
“I think the Bitcoin doubters are going to be proven wrong,” Saylor said bluntly. “The value of Bitcoin is in its scarcity and its network effect.”
Saylor, who is known as one of the most vocal and influential Bitcoin advocates, emphasized the digital asset’s unique characteristics as a store of value and a medium of exchange. He argued that its limited supply of 21 million coins, combined with its decentralized and immutable nature, makes it a hedge against inflation and future financial crises.
“The total supply of Bitcoin cannot be inflated,” Saylor explained. “It cannot be diluted. It cannot be increased by any central bank or government.”
Saylor also dismissed concerns about Bitcoin’s volatility, arguing that its long-term price trend has been overwhelmingly positive despite short-term fluctuations. He cited the asset’s performance since its inception in 2009, which has seen it grow in value by over 1,000,000%.
“You can’t say Bitcoin is a failure if it’s up 10,000% over 10 years,” Saylor said.
Saylor’s unwavering belief in Bitcoin has led MicroStrategy to acquire over 70,000 BTC, using the company’s treasury reserves. This move has positioned MicroStrategy as one of the largest corporate holders of Bitcoin and has been seen as a major vote of confidence in the cryptocurrency.
Despite the recent decline in Bitcoin’s price, Saylor remains unfazed, stating that he is “not a trader” and is focused on the long-term potential of the asset. He believes that Bitcoin will eventually become a global reserve currency, displacing traditional fiat currencies such as the US dollar.
“Bitcoin is disrupting the global monetary system,” Saylor said. “It’s going to take time, but it’s inevitable.”
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