Michael Saylor Calls Bitcoin ‘the Best Hedge Against Inflation’
MicroStrategy CEO Michael Saylor is doubling down on his bullish stance on Bitcoin, calling it “the best hedge against inflation” in a recent interview with CNBC.
Saylor has been a vocal advocate for Bitcoin since investing $1.2 billion of MicroStrategy’s funds in the cryptocurrency in 2020. He believes that Bitcoin’s decentralized and inflation-resistant nature makes it an ideal asset for investors seeking to protect their wealth from the corrosive effects of inflation.
“Bitcoin is the best hedge against inflation because it is not controlled by any central authority,” Saylor explained. “It is a scarce asset that cannot be debauched by governments or central banks.”
Saylor’s comments come amid growing concerns about inflation, as the U.S. consumer price index rose 6.8% in November 2021, its highest level in nearly 40 years.
While some economists believe that inflation is transitory and will eventually subside, Saylor argues that it is a persistent problem that will continue to erode the value of fiat currencies.
“Inflation is a stealth tax that hurts everyone, especially those on fixed incomes,” he said. “Bitcoin is a way to protect yourself from this insidious threat.”
Saylor’s bullishness on Bitcoin is not shared by all investors. Some analysts believe that the cryptocurrency is overpriced and could be vulnerable to a correction.
However, Saylor remains unfazed by the critics. He believes that Bitcoin is still in its early stages of adoption and has the potential to become a global reserve currency.
“Bitcoin is the future of money,” Saylor declared. “It is the only asset that can truly protect your wealth from the ravages of inflation.”
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