The chief executive officer of Microstrategy firm shared his point of view on the main purpose of Bitcoin in the financial system.
Microstrategy is a business intelligence firm and also it is a publicly listed company. Michael Saylor is CEO of Microstrategy firm and he is a bitcoin lover person, who keeps appreciating Bitcoin’s significance in every possible way. Even though he is continuously adding Bitcoin balance to the reserved fund of the company. At present, Microstrategy holds more than 1,25,000 Bitcoin on the company balance sheet.
Recently Michael Saylor appeared in an interview with Bloomberg Technology. During the interview, he shared why he thinks that Bitcoin is the solution to inflation.
First of all, Michael asserted that we should not see bitcoin in the short term because the short term price of Bitcoin is only because of the traders but in the long term, it is all about Bitcoin’s potential.
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Microstrategy CEO added:
“If you go back two years when MicroStrategy first bought in, it’s up to 400% and has dramatically outperformed the Nasdaq or gold or any other asset you could have bought. If you are looking at it in a matter of days or weeks or months, the traders control it.”
According to Michael, there are mainly three types of people involved with the bitcoin market. These are traders, technocrats, and maximalists.
Microstrategy CEO said that maximalists are all in Bitcoin because such people think that Bitcoin is a type of economic instrument.
“The maximalists are all in. Myself, Jack Dorsey, I think Bitcoin is an instrument of economic empowerment. <..> The market price is set by a tug-of-war between the technocrats – the people who are pro-technology and think it is the next big tech network like Google or Amazon for money, and the traders, who are looking at an uncorrelated asset.”
Further, Michael claimed that all the maximalists and people who are in the Bitcoin vehicle will secure huge advantages in the long term.
Read also: Russian tax authority says crypto payments should fall under foreign trade contracts
Microstrategy CEO explains bitcoin is solution to inflation
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