MicroStrategy CEO Michael Saylor is still a strong supporter of Bitcoin. Saylor, who has praised the advantages of bitcoin numerous times, says that it is an excellent investment. His firm is still the biggest bitcoin-holdings company in the world and it shares his convictions. Now, once again, Saylor has spoken out in favor of the cryptocurrency, effectively snubbing its competitors while he’s at it.
Bitcoin is the Only Secure Asset
Bitcoin’s scarcity has often been one of the strongest arguments for the value of the cryptocurrency. There can only be 21,000,000 bitcoins, which means that once the supply has been exhausted, no new bitcoins will ever come into circulation. BTC can’t be mined more, which makes it one of most precious assets worldwide.
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With bitcoin’s growth, it has fast become a rival for other top investment assets in the space. Gold is one of these assets. Bitcoin, also known as digital gold, has been outperforming its physical counterpart over the past few years. This puts them in intense competition. According to Saylor however, bitcoin is the only asset that truly is scarce.
Saylor stated that any other asset can be created more than one. Saylor called Bitcoin the greatest scarcity in human history. Gold was a commodity that the CEO refers to, along with other assets such as real estate or luxury watches.
“I can create more real estate in New York City. I can make more cars. Luxury watches can be made more often. I can produce more gold. Stocks can be created with more shares. I can create more bonds,” Saylor explained.
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He reasoned that he could create more, so they were basically commodities. Whereas, bitcoin is “magical” given that there will only ever be 21 million tokens and no one else can create more BTC once they are all mined.
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“I can create any commodity; they’re commodities by definition. Given enough money and time, I can create infinite of any of them,” Saylor continued.
Saylor’s advocacy for bitcoin runs both personal and professional. Saylor’s personal investment in bitcoin is a reason why MicroStrategy should be investing in this digital asset. MicroStrategy has over 120K BTC valued at almost $5 billion as of the writing of this article. That puts it in profit territory.
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