MicroStrategy CEO: Bitcoin is not a digital currency

MicroStrategy CEO believes that bitcoin is not a digital currency but a form of digital assets. In response to a question concerning whether cryptocurrency could be a threat to the dollar, he stated this.

MicroStrategy CEO speaks out about BTC Nature

Yesterday, Michael Saylor, CEO at MicroStrategy was a guest on Natalie Brunell’s “Coin Stories” podcast. Saylor was asked if he thought bitcoin was a threat to U.S. dollars.

I would call it [i.e. BTC] digital property, it is a threat to assets, especially to other forms: gold, real estate. “I don’t think the United States government feels threatened by real estate, buildings, businesses, or gold,” he said.

Saylor said the following when he was previously a guest of Scott Melker’s podcast, “Wolf of All Streets”.

I don’t think bitcoin has ever become a currency in the US. (…) And what he does is demonetize other forms of property.

MicroStrategy and Bitcoin Market

MicroStrategy steadily accumulates bitcoins. This process will begin in August 2020. The company has 105,085 BTC, worth approximately $3.3B.

Saylor stated that MicroStrategy does not intend to sell cryptocurrencies, even though the rate of bitcoin falls right now.

Saylor also mentioned Warren Buffet’s famous quote that states, If you don’t want to own shares for ten years, don’t even think about owning them for ten minutes.” He also mentioned that Amazon, for instance, gave a lot to its most loyal investors.

Today’s price of 1 BTC is $31,707, which is more than 31% less than 7 days ago, and 2.4% less than 24 hours. ETH can lose as much as 10% each week.

Read Also: Cryptocurrencies Only Require Monitoring – Bank Of England

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